NIO (NYSE:NIO) Shares Up 3.2% – What’s Next?

NIO Inc. (NYSE:NIO) shares were up 3.2% during trading on Monday . The company traded as high as $5.01 and last traded at $4.9350. Approximately 29,431,268 shares changed hands during trading, a decline of 27% from the average daily volume of 40,065,266 shares. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NIO. The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Monday. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Finally, Bank of America reaffirmed a “neutral” rating and issued a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $6.70.

NIO Price Performance

The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of -8.97 and a beta of 0.90. The company has a fifty day simple moving average of $5.41 and a two-hundred day simple moving average of $5.38. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.

NIO (NYSE:NIO) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $4.95 billion for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%. As a group, research analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of NIO

Hedge funds have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC purchased a new stake in NIO in the 3rd quarter valued at about $89,952,000. Bank of America Corp DE boosted its position in shares of NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after acquiring an additional 5,962,731 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after purchasing an additional 5,185,565 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in NIO during the second quarter worth approximately $19,008,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.