NIO (NYSE:NIO) Trading 3.6% Higher

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group cut their target price on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Sanford C. Bernstein lowered their price target on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. Barclays restated an “underweight” rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Bank of America lowered their price target on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Macquarie initiated coverage on NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Down 5.1 %

The stock has a fifty day moving average of $5.17 and a 200-day moving average of $6.71. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The business 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share. Equities research analysts predict that Nio Inc – will post -1.26 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in 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 buying an additional 491,140 shares during the last quarter. Electron Capital Partners LLC acquired a new stake in shares of NIO during the third quarter worth about $37,918,000. Top Ace Asset Management Ltd acquired a new stake in shares of NIO during the third quarter worth about $1,888,000. Banque Pictet & Cie SA acquired a new stake in shares of NIO during the third quarter worth about $2,486,000. Finally, Meridian Wealth Management LLC increased its position in shares of NIO by 503.8% during the third quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock worth $812,000 after purchasing an additional 74,968 shares in the last quarter. 48.55% of the stock is 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.