NIO (NYSE:NIO) Shares Up 8.2%

Nio Inc – (NYSE:NIO) shot up 8.2% during mid-day trading on Wednesday . The stock traded as high as $4.90 and last traded at $4.90. 27,025,340 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 54,407,105 shares. The stock had previously closed at $4.53.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NIO. Mizuho reissued a “neutral” rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Sanford C. Bernstein lowered their target price on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. UBS Group lowered their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Bank of America raised their target price on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, Macquarie initiated coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.55.

NIO Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The business has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $5.61.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. Equities research analysts forecast that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. lifted its holdings in shares of NIO by 9.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock valued at $182,000 after purchasing an additional 1,816 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of 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 purchasing an additional 2,000 shares in the last quarter. Fountainhead AM LLC lifted its holdings in shares of NIO by 20.0% in the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock valued at $109,000 after purchasing an additional 2,012 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of NIO by 13.9% in the first 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 in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after purchasing an additional 2,092 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

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.