NIO (NYSE:NIO) Trading Up 0.1% – Here’s Why

Nio Inc – (NYSE:NIO) was up 0.1% on Thursday . The company traded as high as $3.58 and last traded at $3.53. Approximately 5,854,450 shares changed hands during trading, a decline of 90% from the average daily volume of 55,992,017 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

NIO has been the subject of a number of recent research reports. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Mizuho decreased their price target on NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Cfra Research raised shares of NIO to a “hold” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.05.

NIO Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock’s fifty day moving average is $4.19 and its 200-day moving average is $4.63. The stock has a market capitalization of $7.38 billion, a PE ratio of -2.34 and a beta of 1.74.

NIO (NYSE:NIO) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the company posted ($2.81) EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts predict that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of NIO during the 4th quarter valued at about $1,360,000. AlphaStar Capital Management LLC acquired a new position in shares of NIO in the 4th quarter worth approximately $537,000. Arizona PSPRS Trust acquired a new stake in NIO in the 4th quarter valued at approximately $1,330,000. Principal Financial Group Inc. raised its position in NIO by 140.2% in the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after purchasing an additional 43,839 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of NIO during the fourth quarter worth $1,776,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.