NIO (NYSE:NIO) Shares Up 2%

Shares of Nio Inc – (NYSE:NIO) shot up 2% during mid-day trading on Monday . The stock traded as high as $6.04 and last traded at $5.68. 44,149,273 shares were traded during trading, a decline of 22% from the average session volume of 56,842,816 shares. The stock had previously closed at $5.57.

Analyst Upgrades and Downgrades

NIO has been the topic of several research analyst reports. Sanford C. Bernstein dropped their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Mizuho reaffirmed a “neutral” rating and set a $5.50 price target on shares of NIO in a research report on Monday, March 25th. Barclays restated an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Bank of America reduced their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, Macquarie began coverage on NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $8.43.

NIO Trading Down 5.4 %

The stock has a market cap of $8.96 billion, a PE ratio of -2.98 and a beta of 1.92. 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 firm has a fifty day simple moving average of $4.91 and a two-hundred day simple moving average of $6.37.

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

Hedge Funds Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. Raymond James Financial Services Advisors Inc. raised its stake in shares of NIO by 29.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 291,952 shares of the company’s stock worth $2,639,000 after acquiring an additional 66,279 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in NIO by 21.5% in the third quarter. Stratos Wealth Partners LTD. now owns 18,259 shares of the company’s stock worth $165,000 after purchasing an additional 3,233 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NIO by 1.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 404,041 shares of the company’s stock valued at $3,653,000 after buying an additional 3,868 shares during the period. IFM Investors Pty Ltd grew its stake in shares of NIO by 24.5% during the third quarter. IFM Investors Pty Ltd now owns 88,045 shares of the company’s stock valued at $796,000 after buying an additional 17,334 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NIO by 7.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company’s stock worth $18,583,000 after buying an additional 134,234 shares during the period. 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.