NIO (NYSE:NIO) Stock Price Up 1.9% – Here’s Why

NIO Inc. (NYSE:NIO) shares shot up 1.9% on Tuesday. The stock traded as high as $3.52 and last traded at $3.4850. Approximately 30,040,104 shares changed hands during trading, a decline of 19% from the average daily volume of 37,214,727 shares. The stock had previously closed at $3.42.

Analysts Set New Price Targets

Several analysts have weighed in on NIO shares. Royal Bank Of Canada lowered NIO to a “sector perform” rating in a report on Thursday, September 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Sanford C. Bernstein cut their price objective on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 2nd. Citigroup reaffirmed a “buy” rating on shares of NIO in a research report on Tuesday, September 1st. Finally, Zacks Research cut NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.87.

NIO Stock Performance

The stock’s 50-day moving average is $4.07 and its 200-day moving average is $5.04. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of -12.61 and a beta of 0.92.

NIO (NYSE:NIO) last released its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. The company had revenue of $4.73 billion during the quarter. On average, analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of large investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd acquired a new position in shares of NIO during the second quarter worth $34,000. Global Retirement Partners LLC bought a new position in NIO during the 2nd quarter valued at $34,000. Wellington Altus USA Inc. acquired a new position in NIO in the second quarter worth about $35,000. Merkkuri Wealth Advisors LLC acquired a new stake in shares of NIO during the 1st quarter valued at approximately $41,000. Finally, MV Capital Management Inc. acquired a new position in shares of NIO in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.