NIO (NYSE:NIO) Trading 4.6% Higher

Nio Inc – (NYSE:NIO) shares shot up 4.6% on Monday . The stock traded as high as $5.30 and last traded at $5.25. 38,526,850 shares were traded during mid-day trading, a decline of 25% from the average session volume of 51,654,797 shares. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Bank of America lifted their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.93.

NIO Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $9.63 billion, a PE ratio of -3.31 and a beta of 1.82. The business has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $4.69.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the firm posted ($0.51) EPS. Equities research analysts predict that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in NIO during the 2nd quarter worth about $228,000. Truist Financial Corp raised its stake in shares of NIO by 32.2% in the second quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock worth $105,000 after purchasing an additional 6,150 shares during the last quarter. Creative Planning lifted its holdings in shares of NIO by 34.7% during the second quarter. Creative Planning now owns 268,318 shares of the company’s stock worth $1,116,000 after purchasing an additional 69,143 shares during the period. SIH Partners LLLP boosted its position in NIO by 104.0% in the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock valued at $2,760,000 after buying an additional 338,320 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in NIO by 10.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after buying an additional 17,467 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.