NIO (NYSE:NIO) Trading Up 2.5%

Nio Inc – (NYSE:NIO)’s share price shot up 2.5% during trading on Friday . The company traded as high as $4.20 and last traded at $4.04. 20,288,797 shares were traded during trading, a decline of 60% from the average session volume of 50,813,152 shares. The stock had previously closed at $3.94.

Analyst Ratings Changes

A number of analysts have issued reports on NIO shares. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Bank of America lifted their price objective on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Finally, Citigroup reduced their target price on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average target price of $7.55.

NIO Stock Performance

The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of -2.41 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $4.78.

NIO (NYSE:NIO) last posted its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. As a group, analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Truist Financial Corp boosted its stake in NIO by 32.2% in the second quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after acquiring an additional 6,150 shares in the last quarter. Creative Planning lifted its holdings in shares of NIO by 34.7% in the 2nd quarter. Creative Planning now owns 268,318 shares of the company’s stock valued at $1,116,000 after purchasing an additional 69,143 shares during the last quarter. SIH Partners LLLP boosted its position in shares of NIO by 104.0% in the 2nd quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock valued at $2,760,000 after purchasing an additional 338,320 shares during the period. The Manufacturers Life Insurance Company grew its stake in NIO by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after buying an additional 17,467 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in NIO during the second quarter worth approximately $420,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.