NIO (NYSE:NIO) Stock Price Up 0.4% – What’s Next?

Nio Inc – (NYSE:NIO) shot up 0.4% on Friday . The company traded as high as $5.19 and last traded at $5.12. 17,051,096 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 56,652,801 shares. The stock had previously closed at $5.10.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NIO. Citigroup dropped their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. One 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 issued a strong buy rating to the stock. According to MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $6.11.

NIO Trading Up 1.2 %

The company has a market cap of $8.87 billion, a PE ratio of -3.41 and a beta of 1.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $5.41 and a 200 day moving average price of $4.86.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the company posted ($0.51) earnings per share. NIO’s revenue was up 98.9% compared to the same quarter last year. Sell-side analysts predict that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its position in shares of NIO by 2.5% during the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after acquiring an additional 2,000 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after buying an additional 2,038 shares during the period. Ballentine Partners LLC boosted its stake in shares of NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after buying an additional 2,482 shares during the period. Atomi Financial Group Inc. raised its holdings in NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in 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 in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.