NIO (NYSE:NIO) Shares Up 1.9%

Nio Inc – (NYSE:NIO)’s share price shot up 1.9% during trading on Thursday . The company traded as high as $5.41 and last traded at $5.32. 14,045,657 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 56,580,203 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

A number of brokerages have commented on NIO. Sanford C. Bernstein reduced their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, March 7th. UBS Group dropped their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Jefferies Financial Group dropped their target price on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Mizuho restated a “neutral” rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. Finally, Bank of America dropped their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.43.

NIO Stock Performance

The company has a 50-day moving average of $4.88 and a 200 day moving average of $6.35. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $8.72 billion, a PE ratio of -2.90 and a beta of 1.92.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate 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 business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. NIO’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Nio Inc – will post -1.26 EPS for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of NIO by 29.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 291,952 shares of the company’s stock valued at $2,639,000 after purchasing an additional 66,279 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of NIO by 21.5% during the third quarter. Stratos Wealth Partners LTD. now owns 18,259 shares of the company’s stock valued at $165,000 after purchasing an additional 3,233 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NIO by 1.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 404,041 shares of the company’s stock worth $3,653,000 after purchasing an additional 3,868 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of NIO by 24.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 88,045 shares of the company’s stock worth $796,000 after buying an additional 17,334 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in NIO by 7.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company’s stock valued at $18,583,000 after buying an additional 134,234 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.