Shares of NIO Inc. (NYSE:NIO – Get Free Report) shot up 2.4% during mid-day trading on Tuesday. The company traded as high as $3.58 and last traded at $3.5550. Approximately 34,012,103 shares changed hands during trading, a decline of 8% from the average daily volume of 37,138,117 shares. The stock had previously closed at $3.47.
Analyst Upgrades and Downgrades
NIO has been the topic of a number of research reports. Sanford C. Bernstein cut their price objective on NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, September 2nd. Zacks Research cut NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $6.10 price target on shares of NIO in a report on Friday, September 4th. Citigroup reaffirmed a “buy” rating on shares of NIO in a research report on Tuesday, September 1st. Finally, Royal Bank Of Canada downgraded shares of NIO to a “sector perform” rating in a research note on Thursday, September 3rd. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.87.
NIO Price Performance
The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The company has a market cap of $8.70 billion, a PE ratio of -12.98 and a beta of 0.92. The company has a 50-day moving average price of $3.94 and a two-hundred day moving average price of $4.97.
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The firm had revenue of $4.73 billion during the quarter. Sell-side analysts expect that NIO Inc. will post -0.13 earnings per share for the current fiscal year.
Institutional Trading of NIO
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after acquiring an additional 5,962,731 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of NIO by 99.0% in the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. SG Americas Securities LLC lifted its holdings 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 purchasing an additional 2,020,754 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in NIO during the 2nd quarter valued at approximately $19,008,000. Finally, Hsbc Holdings PLC boosted its position in NIO by 651.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after purchasing an additional 1,387,656 shares during the period. Institutional investors own 48.55% of the company’s stock.
NIO Company Profile
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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