Nio Inc – (NYSE:NIO – Get Free Report) shares saw unusually-strong trading volume on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $8.00 price target on the stock, up from their previous price target of $5.30. Approximately 25,844,359 shares were traded during mid-day trading, a decline of 50% from the previous session’s volume of 51,282,082 shares.The stock last traded at $5.11 and had previously closed at $4.85.
A number of other research analysts have also issued reports on the stock. Bank of America raised their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday. Citigroup lowered their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wolfe Research started coverage on shares of NIO in a research note on Thursday. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.93.
Read Our Latest Stock Analysis on NIO
Institutional Trading of NIO
NIO Stock Up 3.7 %
The company has a market capitalization of $8.65 billion, a P/E ratio of -2.98 and a beta of 1.82. The business’s fifty day moving average price is $4.27 and its 200 day moving average price is $4.71. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. As a group, equities research analysts predict that Nio Inc – will post -1.43 earnings per share for the current fiscal year.
About NIO
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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