NIO (NYSE:NIO) Stock Price Up 1.3% – Here’s What Happened

by · The Markets Daily

Shares of NIO Inc. (NYSE:NIO – Get Free Report) traded up 1.3% during mid-day trading on Monday. The company traded as high as $3.47 and last traded at $3.4150. Approximately 25,941,420 shares traded hands during trading, a decline of 30% from the average daily volume of 37,248,477 shares. The stock had previously closed at $3.37.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Freedom Broker cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein decreased their target price on NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. Royal Bank Of Canada lowered NIO to a “sector perform” rating in a report on Thursday, September 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $6.10 price target on shares of NIO in a research report on Friday, September 4th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.87.

Read Our Latest Research Report on NIO

NIO Stock Up 1.3%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of -12.65 and a beta of 0.92. The firm’s 50-day simple moving average is $4.14 and its 200-day simple moving average is $5.09.

NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. Sell-side analysts forecast that NIO Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in shares of NIO in the 2nd quarter worth approximately $34,000. Persistent Asset Partners Ltd bought a new stake in shares of NIO during the second quarter valued at approximately $34,000. Wellington Altus USA Inc. bought a new stake in shares of NIO during the second quarter valued at approximately $35,000. Merkkuri Wealth Advisors LLC acquired a new position in shares of NIO in the first quarter valued at $41,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of NIO in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.

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