NIO (NYSE:NIO) Shares Up 3.6%

Nio Inc – (NYSE:NIO) shot up 3.6% during trading on Thursday . The stock traded as high as $4.06 and last traded at $4.05. 13,540,922 shares were traded during trading, a decline of 76% from the average session volume of 56,116,426 shares. The stock had previously closed at $3.91.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NIO. Macquarie initiated coverage on shares of NIO in a research report on Monday. They set a “neutral” rating and a $5.00 price target for the company. Mizuho reiterated a “neutral” rating and set a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Sanford C. Bernstein cut 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. Barclays reiterated an “underweight” rating and set a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.43.

NIO Stock Up 2.8 %

The firm has a market capitalization of $6.91 billion, a P/E ratio of -2.33 and a beta of 1.93. The company has a 50 day simple moving average of $5.25 and a two-hundred day simple moving average of $6.76. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last issued 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). The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned ($0.51) earnings per share. On average, equities analysts predict that Nio Inc – will post -1.26 EPS for the current fiscal year.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of NIO by 352.5% during the 3rd quarter. SG Americas Securities LLC now owns 630,470 shares of the company’s stock worth $5,699,000 after acquiring an additional 491,140 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in NIO during the 3rd quarter valued at $37,918,000. Top Ace Asset Management Ltd purchased a new stake in NIO during the 3rd quarter valued at $1,888,000. Banque Pictet & Cie SA purchased a new stake in NIO during the 3rd quarter valued at $2,486,000. Finally, Meridian Wealth Management LLC raised its holdings in NIO by 503.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock valued at $812,000 after buying an additional 74,968 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.