NIO (NYSE:NIO) Trading Up 2.2% – Here’s What Happened

Nio Inc – (NYSE:NIOGet 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

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm’s 50 day moving average price is $5.28 and its two-hundred day moving average price is $4.85.

NIO (NYSE:NIOGet 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

(Get Free Report)

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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