NIO (NYSE:NIO) Stock Price Up 2.7%

Nio Inc – (NYSE:NIO)’s share price rose 2.7% on Wednesday . The stock traded as high as $4.22 and last traded at $4.12. Approximately 16,243,199 shares were traded during trading, a decline of 71% from the average daily volume of 55,542,109 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

Several research analysts recently issued reports on NIO shares. Barclays reissued an “underweight” rating and issued a $4.00 price target (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price target on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research note on Wednesday, March 6th. Macquarie assumed coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective for the company. Jefferies Financial Group lowered their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Finally, Mizuho reiterated a “neutral” rating and set a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Up 3.5 %

The firm’s 50-day moving average is $5.10 and its two-hundred day moving average is $6.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a market cap of $7.13 billion, a P/E ratio of -2.35 and a beta of 1.93.

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

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Electron Capital Partners LLC acquired a new stake in NIO during the 3rd quarter worth $37,918,000. Top Ace Asset Management Ltd acquired a new position in NIO in the third quarter valued at about $1,888,000. Banque Pictet & Cie SA bought a new position in NIO during the third quarter worth about $2,486,000. Meridian Wealth Management LLC increased its stake in shares of NIO by 503.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock valued at $812,000 after acquiring an additional 74,968 shares during the last quarter. Finally, TORQ CAPITAL MANAGEMENT HK Ltd increased its stake in shares of NIO by 275.1% in the 3rd quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 284,700 shares of the company’s stock valued at $2,574,000 after acquiring an additional 208,800 shares during the last quarter. 48.55% of the stock is owned by 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.