NIO (NYSE:NIO) Shares Gap Up to $5.57

Nio Inc – (NYSE:NIO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.57, but opened at $5.75. NIO shares last traded at $5.87, with a volume of 29,566,025 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Sanford C. Bernstein reduced their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Macquarie initiated coverage on shares of NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price on the stock. Mizuho reissued a “neutral” rating and set a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Finally, Barclays reissued an “underweight” rating and set a $4.00 price target (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.43.

NIO Trading Up 2.3 %

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 company has a market cap of $9.80 billion, a P/E ratio of -3.25 and a beta of 1.92. The business has a fifty day simple moving average of $4.92 and a 200 day simple moving average of $6.41.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same period in the prior year, the company earned ($0.51) EPS. NIO’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts anticipate 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 modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of NIO by 29.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 291,952 shares of the company’s stock worth $2,639,000 after purchasing an additional 66,279 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of NIO by 21.5% during the third quarter. Stratos Wealth Partners LTD. now owns 18,259 shares of the company’s stock valued at $165,000 after acquiring an additional 3,233 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NIO by 1.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 404,041 shares of the company’s stock worth $3,653,000 after purchasing an additional 3,868 shares during the period. AMF Tjanstepension AB raised its stake in shares of NIO by 95.4% in the 3rd quarter. AMF Tjanstepension AB now owns 672,300 shares of the company’s stock worth $6,078,000 after buying an additional 328,200 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of NIO by 24.5% in the third quarter. IFM Investors Pty Ltd now owns 88,045 shares of the company’s stock valued at $796,000 after buying an additional 17,334 shares during the period. 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.