NIO (NYSE:NIO) Stock Price Up 5.3%

Nio Inc – (NYSE:NIO) rose 5.3% on Tuesday . The company traded as high as $3.21 and last traded at $3.16, approximately 16,686,271 shares traded hands during trading. A decline of 41% from the average daily volume of 28,482,363 shares. The stock had previously closed at $3.00.

NIO has been the topic of a number of recent research reports. UBS Group decreased their price objective on NIO from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Bank of America downgraded NIO from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $6.20 to $3.00 in a report on Tuesday, May 28th. Finally, Zacks Investment Research raised NIO from a “sell” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $7.27.

The firm has a market capitalization of $3.13 billion and a price-to-earnings ratio of -0.30. The company has a current ratio of 1.49, a quick ratio of 1.34 and a debt-to-equity ratio of 3.73. The firm has a fifty day moving average price of $3.28 and a 200 day moving average price of $4.75.

NIO (NYSE:NIO) last announced its earnings results on Tuesday, May 28th. The company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($0.50) by ($1.92). The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.41 billion. The business’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that Nio Inc – will post -1.36 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Bank of America Corp DE boosted its stake in shares of NIO by 930.1% in the 4th quarter. Bank of America Corp DE now owns 167,144 shares of the company’s stock valued at $1,065,000 after buying an additional 150,918 shares during the period. Virtu Financial LLC purchased a new position in shares of NIO in the 1st quarter valued at about $258,000. Wedbush Securities Inc. purchased a new position in shares of NIO in the 1st quarter valued at about $86,000. BNP Paribas Arbitrage SA purchased a new position in shares of NIO in the 1st quarter valued at about $5,391,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of NIO in the 1st quarter valued at about $178,000. 31.30% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile (NYSE: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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