NIO (NYSE:NIO) Trading 6.3% Higher

Nio Inc – (NYSE:NIO)’s stock price traded up 6.3% during trading on Friday . The company traded as high as $45.75 and last traded at $45.45. 1,278,944 shares changed hands during trading, a decline of 99% from the average session volume of 93,560,633 shares. The stock had previously closed at $42.76.

A number of equities research analysts recently commented on the stock. Citigroup raised shares of NIO from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $60.00 target price on shares of NIO in a research report on Tuesday, April 27th. CLSA assumed coverage on shares of NIO in a research report on Friday, April 23rd. They set a “buy” rating and a $50.00 target price for the company. HSBC increased their target price on shares of NIO from $44.70 to $54.00 and gave the company a “hold” rating in a research report on Friday, February 26th. Finally, Mizuho increased their target price on shares of NIO from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $49.86.

The stock has a market cap of $71.30 billion, a P/E ratio of -48.34 and a beta of 2.55. The company has a current ratio of 3.06, a quick ratio of 2.96 and a debt-to-equity ratio of 0.39. The business’s 50-day simple moving average is $38.11.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, April 29th. The company reported ($0.48) EPS for the quarter. The firm had revenue of $1.22 billion for the quarter. NIO had a negative net margin of 38.46% and a negative return on equity of 61.18%. On average, sell-side analysts forecast that Nio Inc – will post -0.65 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in NIO during the fourth quarter valued at $666,462,000. Credit Suisse AG lifted its holdings in NIO by 16.4% during the fourth quarter. Credit Suisse AG now owns 10,242,313 shares of the company’s stock valued at $499,210,000 after purchasing an additional 1,445,126 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in NIO by 407,573.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,500,000 shares of the company’s stock valued at $414,290,000 after purchasing an additional 8,497,915 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in NIO by 13.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,346,351 shares of the company’s stock valued at $286,361,000 after purchasing an additional 897,541 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in NIO by 33.2% during the fourth quarter. Northern Trust Corp now owns 6,430,037 shares of the company’s stock valued at $313,401,000 after purchasing an additional 1,603,891 shares in the last quarter. Institutional investors own 28.63% of the company’s stock.

About NIO (NYSE: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.

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