NIO (NYSE:NIO) Stock Price Up 1.2% – What’s Next?

Nio Inc – (NYSE:NIO) shares rose 1.2% during mid-day trading on Wednesday . The company traded as high as $4.45 and last traded at $4.36. Approximately 20,800,565 shares changed hands during trading, a decline of 63% from the average daily volume of 56,769,750 shares. The stock had previously closed at $4.31.

Analyst Ratings Changes

NIO has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $5.42 and a 200 day simple moving average of $4.88.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the previous year, the firm earned ($0.51) earnings per share. The business’s revenue was up 98.9% compared to the same quarter last year. As a group, equities analysts expect that Nio Inc – will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of NIO during the second quarter valued at approximately $1,076,000. International Assets Investment Management LLC boosted its holdings in NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after acquiring an additional 334,723 shares in the last quarter. Signaturefd LLC boosted its holdings in NIO by 16.9% in the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after acquiring an additional 7,014 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after acquiring an additional 343,910 shares in the last quarter. Finally, SIH Partners LLLP boosted its holdings in NIO by 104.0% in the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after acquiring an additional 338,320 shares in the last quarter. 48.55% of the stock is currently owned by 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.