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

Nio Inc – (NYSE:NIO)’s share price shot up 1.7% on Friday . The stock traded as high as $5.48 and last traded at $5.24. 28,622,689 shares traded hands during trading, a decline of 49% from the average session volume of 56,663,379 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of analyst reports. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus price target of $5.93.

NIO Stock Up 1.4 %

The firm has a market cap of $8.97 billion, a P/E ratio of -3.09 and a beta of 1.86. The firm’s 50-day moving average price is $5.16 and its 200 day moving average price is $4.81. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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

Institutional Investors Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in shares of NIO in the 2nd quarter worth $25,000. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the 3rd quarter valued at about $32,000. Sound Income Strategies LLC boosted its position in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in shares of NIO in the 1st quarter worth approximately $51,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of NIO in the 2nd quarter worth approximately $53,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.