NIO (NYSE:NIO) Shares Up 2%

Nio Inc – (NYSE:NIO)’s share price shot up 2% on Tuesday . The company traded as high as $4.13 and last traded at $4.08. 12,963,475 shares traded hands during trading, a decline of 77% from the average session volume of 55,666,969 shares. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NIO. Bank of America lowered their price objective on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Jefferies Financial Group reduced their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. Barclays reaffirmed an “underweight” rating and set a $4.00 target price (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. The Goldman Sachs Group assumed coverage on shares of NIO in a report on Wednesday, January 3rd. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a report on Wednesday, March 6th. 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. According to MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $8.43.

NIO Price Performance

The stock’s 50 day moving average price is $5.10 and its 200-day moving average price is $6.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the previous year, the business posted ($0.51) earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several institutional investors have recently bought and sold shares of the business. Cigna Investments Inc. New lifted its position in NIO by 5.4% during the third quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock valued at $249,000 after purchasing an additional 1,402 shares during the last quarter. Prudential PLC lifted its holdings in shares of NIO by 0.9% in the 3rd quarter. Prudential PLC now owns 177,715 shares of the company’s stock worth $1,607,000 after acquiring an additional 1,641 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of NIO by 9.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock worth $182,000 after acquiring an additional 1,816 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of NIO by 15.4% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,712 shares of the company’s stock worth $133,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Fountainhead AM LLC lifted its holdings in shares of NIO by 20.0% in the 4th quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock worth $109,000 after acquiring an additional 2,012 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.