NIO (NYSE:NIO) Trading Down 0.6%

Nio Inc – (NYSE:NIO)’s stock price traded down 0.6% during trading on Thursday . The company traded as low as $4.97 and last traded at $4.99. 28,529,387 shares were traded during mid-day trading, a decline of 45% from the average session volume of 52,174,500 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup cut their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.93.

NIO Trading Up 6.4 %

The firm has a market capitalization of $9.18 billion, a PE ratio of -2.95 and a beta of 1.82. The business has a 50 day moving average price of $4.39 and a 200-day moving average price of $4.69. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the business posted ($0.51) EPS. NIO’s quarterly revenue was up 98.9% on a year-over-year basis. Analysts expect that Nio Inc – will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in NIO in the 4th quarter valued at approximately $42,000. Ridgewood Investments LLC acquired a new stake in NIO during the 2nd quarter valued at $25,000. HighPoint Advisor Group LLC acquired a new stake in NIO during the 4th quarter valued at $93,000. Sound Income Strategies LLC grew its holdings in NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the last quarter. Finally, Tidemark LLC acquired a new stake in NIO during the 4th quarter valued at $96,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.