NIO (NYSE:NIO) Shares Up 3.5% – Here’s Why

NIO Inc. (NYSE:NIO) shares shot up 3.5% during mid-day trading on Monday . The stock traded as high as $6.14 and last traded at $6.0550. 30,500,045 shares changed hands during trading, a decline of 28% from the average session volume of 42,140,863 shares. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NIO. HSBC upgraded NIO from a “hold” rating to a “buy” rating and raised their price target for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Macquarie Infrastructure upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective on the stock in a research report on Thursday, January 15th. Finally, Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.80.

NIO Trading Up 7.6%

The stock has a market capitalization of $15.04 billion, a P/E ratio of -6.75 and a beta of 0.97. The stock has a 50-day moving average price of $5.97 and a two-hundred day moving average price of $5.56. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

NIO (NYSE:NIO) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $4.95 billion for the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%. On average, research analysts forecast that NIO Inc. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several hedge funds have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp boosted its position in shares of NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares in the last quarter. Arax Advisory Partners boosted its position in shares of NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after purchasing an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of NIO during the fourth quarter valued at approximately $41,000. Merkkuri Wealth Advisors LLC bought a new stake in shares of NIO during the first quarter valued at approximately $41,000. Finally, MV Capital Management Inc. bought a new stake in shares of NIO during the fourth quarter valued at approximately $42,000. 48.55% of the stock is currently owned by institutional investors.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.