NIO (NYSE:NIO) Shares Gap Up to $6.52

Nio Inc – (NYSE:NIO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $6.52, but opened at $7.70. NIO shares last traded at $7.37, with a volume of 57,641,008 shares.

Wall Street Analysts Forecast Growth

NIO has been the topic of several analyst reports. Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup reduced 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. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Bank of America lifted their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus price target of $5.93.

NIO Trading Up 10.7 %

The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of -4.34 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 company’s 50 day moving average is $4.54 and its 200 day moving average is $4.68.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period last year, the company posted ($0.51) EPS. On average, research analysts forecast that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NIO. Ridgewood Investments LLC bought a new stake in shares of NIO in the second quarter worth about $25,000. HighPoint Advisor Group LLC bought a new stake in NIO during the 4th quarter valued at about $93,000. Sound Income Strategies LLC grew its position in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in NIO during the 1st quarter valued at $51,000. Finally, Edge Wealth Management LLC purchased a new position in shares of NIO in the 1st quarter valued at approximately $54,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.