Nio Inc – (NYSE:NIO – Get Free Report)’s share price rose 2.2% during mid-day trading on Thursday . The stock traded as high as $4.77 and last traded at $4.70. Approximately 14,594,706 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 56,568,660 shares. The stock had previously closed at $4.60.
Analyst Upgrades and Downgrades
NIO has been the topic of several research analyst reports. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.71.
Get Our Latest Stock Report on NIO
NIO Stock Performance
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings data 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 analyst estimates of $17.49 billion. During the same quarter in the prior year, the company earned ($0.51) earnings per share. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year. Research analysts expect that Nio Inc – will post -1.39 EPS for the current fiscal year.
Institutional Investors Weigh In On NIO
A number of large investors have recently added to or reduced their stakes in NIO. FMR LLC increased its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Point72 Asset Management L.P. grew 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 valued at $26,891,000 after buying an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in NIO in the 3rd quarter valued at about $4,879,000. Quadrature Capital Ltd raised its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the period. Finally, Krane Funds Advisors LLC lifted its position in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after acquiring an additional 370,556 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.
NIO Company Profile
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.
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