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

by · The Cerbat Gem

Nio Inc – (NYSE:NIO – Get Free Report)’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.

Get Our Latest Analysis on NIO

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 – Get Free Report) 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

(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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