Shares of NIO Inc. (NYSE:NIO – Get Free Report) shot up 3.5% on Monday . The company traded as high as $6.14 and last traded at $6.0550. 30,500,045 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 42,140,863 shares. The stock had previously closed at $5.85.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.80 to $6.80 in a research note on Friday, March 13th. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a report on Wednesday, March 11th. Bank of America restated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Finally, Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.80.
Read Our Latest Stock Analysis on NIO
NIO Trading Up 3.5%
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The firm had revenue of $4.95 billion for the quarter. On average, equities analysts anticipate that NIO Inc. will post -0.28 EPS for the current fiscal year.
Institutional Trading of NIO
Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in NIO by 25.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 68,507 shares of the company’s stock valued at $413,000 after purchasing an additional 14,075 shares during the period. Parallel Advisors LLC boosted its stake in NIO by 115.7% in the 1st quarter. Parallel Advisors LLC now owns 29,769 shares of the company’s stock valued at $180,000 after purchasing an additional 15,971 shares during the period. KBC Group NV boosted its stake in NIO by 39.7% in the 1st quarter. KBC Group NV now owns 583,722 shares of the company’s stock valued at $3,520,000 after purchasing an additional 165,741 shares during the period. Spartan Wealth Advisory Services LLC bought a new stake in NIO in the 1st quarter valued at $82,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in NIO in the 1st quarter valued at $95,000. 48.55% of the stock is currently owned by institutional investors.
About NIO
NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.
The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.
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