NIO (NYSE:NIO) Shares Up 2.8% – Here’s Why

NIO Inc. (NYSE:NIO) shot up 2.8% during trading on Tuesday . The stock traded as high as $3.53 and last traded at $3.53. 10,408,782 shares traded hands during trading, a decline of 80% from the average session volume of 52,574,089 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

Several research firms recently commented on NIO. Citigroup reiterated a “buy” rating on shares of NIO in a research note on Monday, April 28th. Barclays cut their price target on shares of NIO from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 4th. Mizuho cut their price target on shares of NIO from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 3rd. The Goldman Sachs Group upgraded shares of NIO from a “sell” rating to a “neutral” rating and upped their price target for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. Finally, Cfra Research upgraded shares of NIO to a “hold” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.74.

NIO Price Performance

The stock has a market cap of $7.33 billion, a price-to-earnings ratio of -2.17 and a beta of 1.62. The stock’s 50 day moving average price is $3.79 and its two-hundred day moving average price is $4.13. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.23). The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.39) EPS. Equities research analysts forecast that NIO Inc. will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after acquiring an additional 5,185,565 shares during the period. SG Americas Securities LLC grew its position in NIO by 83.3% during the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company’s stock valued at $8,038,000 after buying an additional 958,750 shares during the period. Trexquant Investment LP acquired a new stake in NIO during the fourth quarter valued at $3,305,000. Hsbc Holdings PLC grew its position in NIO by 96.6% during the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock valued at $3,964,000 after buying an additional 510,610 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in NIO during the fourth quarter valued at $1,776,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.