NIO Inc. (NYSE:NIO – Get Free Report) shot up 2.8% during mid-day trading on Thursday. The stock traded as high as $3.55 and last traded at $3.5050. 37,085,515 shares changed hands during trading, a decline of 0% from the average daily volume of 37,140,352 shares. The stock had previously closed at $3.41.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.50 in a report on Wednesday, September 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Freedom Broker downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein decreased their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.87.
Get Our Latest Stock Analysis on NIO
NIO Stock Performance
The stock’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $4.97. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $8.70 billion, a PE ratio of -12.98 and a beta of 0.92.
NIO (NYSE:NIO – Get Free Report) last announced its quarterly earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. The business had revenue of $4.73 billion for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. On average, research analysts predict that NIO Inc. will post -0.13 earnings per share for the current fiscal year.
Institutional Trading of NIO
Several large investors have recently bought and sold shares of NIO. Bank of America Corp DE increased its position in shares of NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after buying an additional 7,079,903 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after buying an additional 5,962,731 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of NIO in the 2nd quarter worth about $19,008,000. SG Americas Securities LLC boosted its position in shares of NIO by 67.2% in the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after buying an additional 2,020,754 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after acquiring an additional 1,387,656 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.
About NIO
NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.
In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.
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