NIO (NYSE:NIO) Trading 1.5% Higher

Nio Inc – (NYSE:NIO) was up 1.5% during mid-day trading on Monday . The company traded as high as $5.38 and last traded at $5.36. Approximately 21,343,275 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 52,365,586 shares. The stock had previously closed at $5.28.

Wall Street Analysts Forecast Growth

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

NIO Trading Up 0.8 %

The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of -3.24 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The business has a fifty day moving average price of $4.42 and a 200 day moving average price of $4.68.

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

Hedge Funds Weigh In On NIO

A number of large investors have recently bought and sold shares of NIO. Principal Securities Inc. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $42,000. Avantax Advisory Services Inc. increased its stake in shares of NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after purchasing an additional 2,092 shares during the period. Norges Bank acquired a new stake in shares of NIO in the fourth quarter valued at approximately $9,652,000. Trexquant Investment LP acquired a new stake in shares of NIO in the fourth quarter valued at approximately $676,000. Finally, Hsbc Holdings PLC increased its stake in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares during the period. Institutional investors own 48.55% of the company’s stock.

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.