NIO (NYSE:NIO) Shares Up 3.6%

Shares of Nio Inc – (NYSE:NIO) were up 3.6% on Thursday . The stock traded as high as $4.06 and last traded at $4.05. Approximately 13,540,922 shares changed hands during trading, a decline of 76% from the average daily volume of 56,116,426 shares. The stock had previously closed at $3.91.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NIO shares. Barclays reiterated an “underweight” rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Jefferies Financial Group reduced their price target on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Mizuho reiterated a “neutral” rating and set a $5.50 price target on shares of NIO in a research report on Monday, March 25th. The Goldman Sachs Group started coverage on NIO in a report on Wednesday, January 3rd. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.43.

NIO Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The stock has a 50 day moving average price of $5.25 and a 200-day moving average price of $6.76. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -2.33 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 analysts’ consensus estimates of ($2.39) by ($0.42). The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) earnings per share. On average, analysts forecast that Nio Inc – will post -1.26 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in NIO by 2.7% during the first quarter. BlackRock Inc. now owns 61,959,482 shares of the company’s stock worth $651,194,000 after buying an additional 1,600,520 shares during the last quarter. Vanguard Group Inc. raised its position in NIO by 2.2% in the third quarter. Vanguard Group Inc. now owns 51,370,117 shares of the company’s stock valued at $810,108,000 after purchasing an additional 1,113,194 shares during the period. Norges Bank purchased a new stake in NIO in the fourth quarter valued at $155,344,000. Legal & General Group Plc raised its position in NIO by 0.8% in the fourth quarter. Legal & General Group Plc now owns 11,086,052 shares of the company’s stock valued at $108,089,000 after purchasing an additional 92,662 shares during the period. Finally, First Trust Advisors LP raised its position in NIO by 20.8% in the first quarter. First Trust Advisors LP now owns 8,128,289 shares of the company’s stock valued at $171,100,000 after purchasing an additional 1,399,601 shares during the period. Institutional investors and hedge funds 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.