NIO (NYSE:NIO) Trading Up 3.1%

Nio Inc – (NYSE:NIOGet Free Report) shares were up 3.1% during trading on Wednesday . The company traded as high as $4.29 and last traded at $4.28. Approximately 19,645,780 shares changed hands during trading, a decline of 61% from the average daily volume of 50,892,832 shares. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NIO shares. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and raised their price target for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. Citigroup reduced their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. Finally, Bank of America raised their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and an average target price of $6.90.

View Our Latest Stock Analysis on NIO

NIO Stock Up 2.7 %

The firm has a market cap of $7.32 billion, a price-to-earnings ratio of -2.53 and a beta of 1.86. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $4.25 and a 200-day moving average price of $4.72.

NIO (NYSE:NIOGet Free Report) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. As a group, sell-side analysts forecast that Nio Inc – will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares during the last quarter. Electron Capital Partners LLC increased its position 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 purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in NIO by 127.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after buying an additional 211,936 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after buying an additional 535,400 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in NIO during the first quarter worth approximately $448,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

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.

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