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

Shares of Nio Inc – (NYSE:NIO) gapped up prior to trading on Monday . The stock had previously closed at $4.61, but opened at $4.94. NIO shares last traded at $5.22, with a volume of 32,804,740 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NIO. Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Bank of America lifted their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Up 15.2 %

The business has a 50 day moving average price of $5.28 and a 200 day moving average price of $4.84. The company has a market capitalization of $9.13 billion, a P/E ratio of -3.43 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period last year, the business posted ($0.51) earnings per share. Analysts anticipate that Nio Inc – will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the 3rd quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in NIO in the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO in the third quarter valued at approximately $76,000. Apollon Wealth Management LLC bought a new stake in shares of NIO during the third quarter worth $78,000. Finally, Baader Bank Aktiengesellschaft bought a new position in NIO during the 2nd quarter worth about $53,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.