NIO (NYSE:NIO) Trading Up 4.2% – Here’s What Happened

Nio Inc – (NYSE:NIO) was up 4.2% during mid-day trading on Thursday . The company traded as high as $5.27 and last traded at $5.21. Approximately 20,853,746 shares traded hands during trading, a decline of 63% from the average daily volume of 56,519,430 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NIO shares. Macquarie raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a report on Monday, October 28th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.11.

NIO Trading Down 4.1 %

The stock has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $4.91. The stock has a market capitalization of $8.75 billion, a PE ratio of -3.35 and a beta of 1.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company’s revenue was up 98.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share. As a group, equities analysts forecast that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. boosted its stake in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the period. Swedbank AB purchased a new position in shares of NIO in the first quarter worth $5,343,000. SG Americas Securities LLC boosted its position in shares of NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after acquiring an additional 744,067 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after acquiring an additional 535,400 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its stake in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after acquiring an additional 370,556 shares in the last quarter. Hedge funds and other institutional investors 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.