NIO (NYSE:NIO) Stock Price Up 0.9% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price rose 0.9% on Monday . The company traded as high as $3.84 and last traded at $3.79. Approximately 32,109,547 shares traded hands during trading, a decline of 42% from the average daily volume of 55,762,847 shares. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NIO shares. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup lowered their price objective on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Mizuho cut their target price on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.00.

NIO Price Performance

The company’s fifty day simple moving average is $4.41 and its 200-day simple moving average is $4.81. The stock has a market cap of $8.07 billion, a P/E ratio of -2.56 and a beta of 1.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned ($2.81) EPS. As a group, sell-side analysts forecast that Nio Inc – will post -1.43 EPS for the current year.

Institutional Trading of NIO

Institutional investors have recently bought and sold shares of the stock. PDS Planning Inc lifted its holdings in shares of NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after purchasing an additional 2,712 shares in the last quarter. Franklin Resources Inc. lifted its holdings in NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares during the last quarter. Perigon Wealth Management LLC boosted its position in NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after buying an additional 2,867 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in NIO by 17.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock worth $94,000 after buying an additional 3,152 shares during the last quarter. Institutional investors and hedge funds 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.