NIO (NYSE:NIO) Stock Price Up 12.6%

Nio Inc – (NYSE:NIO)’s stock price shot up 12.6% during trading on Monday . The company traded as high as $7.71 and last traded at $7.34. 92,678,961 shares were traded during mid-day trading, an increase of 70% from the average session volume of 54,414,992 shares. The stock had previously closed at $6.52.

Wall Street Analysts Forecast Growth

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

NIO Stock Up 3.4 %

The company’s 50-day moving average is $4.54 and its 200 day moving average is $4.68. The stock has a market capitalization of $11.59 billion, a PE ratio of -4.34 and a beta of 1.82. 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 posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, analysts anticipate that Nio Inc – will post -1.37 EPS for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its holdings in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in NIO during the fourth quarter worth about $12,361,000. Swedbank AB acquired a new stake in NIO during the first quarter worth about $5,343,000. Norges Bank acquired a new stake in NIO during the fourth quarter worth about $9,652,000. Finally, AMF Tjanstepension AB grew its holdings in NIO by 132.4% during the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after acquiring an additional 889,900 shares during the period. Institutional investors and hedge funds 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.