NIO (NYSE:NIO) Stock Price Up 4.6% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price was up 4.6% during trading on Tuesday . The company traded as high as $4.00 and last traded at $3.99. Approximately 18,150,939 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 56,991,563 shares. The stock had previously closed at $3.81.

Wall Street Analyst Weigh In

Several analysts have issued reports on NIO shares. Cfra Research raised NIO to a “hold” rating in a report on Friday, March 21st. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Mizuho dropped their price target on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.17.

NIO Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $7.95 billion, a P/E ratio of -2.52 and a beta of 1.81. The stock’s 50-day moving average is $4.40 and its two-hundred day moving average is $4.80.

NIO (NYSE:NIO) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.81) EPS. Equities research analysts anticipate that Nio Inc – will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. Shufro Rose & Co. LLC bought a new position in NIO during the fourth quarter valued at $65,000. Vident Advisory LLC raised its position in shares of NIO by 60.6% during the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after buying an additional 20,349 shares in the last quarter. Vienna Asset Management LLC bought a new position in shares of NIO in the 4th quarter valued at about $100,000. Laird Norton Wetherby Trust Company LLC bought a new stake in NIO during the fourth quarter worth approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after acquiring an additional 8,746 shares during the last quarter. 48.55% of the stock is currently owned by 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.