NIO (NYSE:NIO) Stock Price Up 1.7% – Here’s What Happened

Nio Inc – (NYSE:NIO) was up 1.7% during mid-day trading on Wednesday . The stock traded as high as $4.69 and last traded at $4.66. Approximately 18,806,650 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 56,629,531 shares. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NIO shares. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective on the stock in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.11.

NIO Trading Down 0.2 %

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 stock has a 50 day moving average price of $5.58 and a 200-day moving average price of $4.93.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting 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 return on equity of 104.61% and a negative net margin of 32.47%. NIO’s revenue was up 98.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) EPS. On average, equities research analysts expect that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in shares of NIO in the 2nd quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC bought a new position in NIO during the 3rd quarter valued at about $32,000. Baader Bank Aktiengesellschaft purchased a new stake in NIO in the second quarter worth $53,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of NIO during the second quarter valued at $63,000. 48.55% of the stock is owned by institutional investors.

NIO Company Profile

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.