NIO (NYSE:NIO) Trading Up 0.1% – Here’s Why

Nio Inc – (NYSE:NIO) rose 0.1% during mid-day trading on Thursday . The stock traded as high as $3.58 and last traded at $3.53. Approximately 5,854,450 shares traded hands during trading, a decline of 90% from the average daily volume of 55,992,017 shares. The stock had previously closed at $3.52.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NIO. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. Mizuho lowered their price objective on shares of NIO from $4.20 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Citigroup cut their price objective on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.05.

NIO Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business’s 50 day moving average is $4.18 and its 200-day moving average is $4.61. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.33 and a beta of 1.74.

NIO (NYSE:NIO) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm earned ($2.81) earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts anticipate that Nio Inc – will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in NIO. Blue Trust Inc. lifted its stake in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after acquiring an additional 4,332 shares during the period. Sava Infond d.o.o. acquired a new stake in shares of NIO in the 4th quarter valued at $44,000. Callan Family Office LLC acquired a new stake in shares of NIO during the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. bought a new position in NIO during the 4th quarter valued at about $45,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.