NIO (NYSE:NIO) Stock Price Up 1.7%

Nio Inc – (NYSE:NIO)’s stock price shot up 1.7% on Thursday . The stock traded as high as $5.62 and last traded at $5.36. 47,514,230 shares were traded during mid-day trading, a decline of 16% from the average session volume of 56,354,809 shares. The stock had previously closed at $5.27.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Macquarie started coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target for the company. The Goldman Sachs Group began coverage on NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating for the company. UBS Group decreased their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Jefferies Financial Group cut their price objective on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.43.

NIO Stock Performance

The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of -3.23 and a beta of 1.92. The stock’s fifty day simple moving average is $4.92 and its 200-day simple moving average is $6.46.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same quarter in the previous year, the business posted ($0.51) earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts predict that Nio Inc – will post -1.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after buying an additional 235,521 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after acquiring an additional 439,474 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of NIO by 11.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock valued at $20,853,000 after acquiring an additional 245,800 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of NIO by 132.4% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

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.