NIO (NYSE:NIO) Trading Up 3%

Nio Inc – (NYSE:NIO) rose 3% during mid-day trading on Friday . The stock traded as high as $4.88 and last traded at $4.82. Approximately 14,875,312 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 54,118,691 shares. The stock had previously closed at $4.68.

Analyst Ratings Changes

NIO has been the subject of a number of analyst reports. Mizuho reissued a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. Bank of America lifted their target price on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Barclays reaffirmed an “underweight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. UBS Group cut their price target on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Finally, Macquarie started coverage on NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The company’s 50-day moving average price is $4.87 and its two-hundred day moving average price is $5.48. The company has a market capitalization of $8.35 billion, a P/E ratio of -2.85 and a beta of 1.86.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts expect that Nio Inc – will post -1.41 EPS for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Mirae Asset Global Investments Co. Ltd. lifted its stake in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after acquiring an additional 439,474 shares during the period. Electron Capital Partners LLC increased its position in NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after acquiring an additional 235,521 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of NIO in the first quarter worth approximately $448,000. Quadrature Capital Ltd bought a new stake in shares of NIO during the 4th quarter valued at $12,361,000. Finally, Van ECK Associates Corp grew its holdings in NIO by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 536,774 shares of the company’s stock valued at $4,869,000 after purchasing an additional 47,773 shares during the period. Institutional investors own 48.55% of the company’s stock.

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.