NIO (NYSE:NIO) Shares Up 1.7% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price rose 1.7% on Wednesday . The stock traded as high as $4.69 and last traded at $4.66. Approximately 18,806,650 shares were traded during trading, a decline of 67% from the average daily volume of 56,629,531 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NIO. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective on the stock in a research note on Monday, October 28th. Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Citigroup dropped their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.11.

NIO Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The firm’s 50 day moving average is $5.58 and its 200 day moving average is $4.93.

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

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of NIO. Oppenheimer & Co. Inc. lifted its holdings in NIO by 2.5% in the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after acquiring an additional 2,000 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the period. Ballentine Partners LLC lifted its stake in shares of NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after purchasing an additional 2,482 shares during the period. Atomi Financial Group Inc. boosted its holdings in NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares during the period. 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.