NIO (NYSE:NIO) Trading 2.2% Higher – Here’s What Happened

NIO Inc. (NYSE:NIO) shares rose 2.2% during mid-day trading on Monday . The stock traded as high as $4.98 and last traded at $4.9650. Approximately 21,624,830 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 41,179,168 shares. The stock had previously closed at $4.86.

Analyst Ratings Changes

A number of brokerages recently issued reports on NIO. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and upped their price target for the stock from $4.80 to $6.80 in a research note on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Bank of America reiterated a “neutral” rating and issued a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Finally, Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a report on Wednesday, March 11th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.70.

NIO Stock Up 2.2%

The company has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $5.39. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The stock has a market cap of $12.33 billion, a PE ratio of -9.03 and a beta of 0.92.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company posted ($0.41) earnings per share. The company’s quarterly revenue was up 112.2% on a year-over-year basis. Analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Insigneo Advisory Services LLC boosted its holdings in shares of NIO by 4.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 43,067 shares of the company’s stock valued at $328,000 after acquiring an additional 1,806 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of NIO by 17.4% during the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock valued at $83,000 after purchasing an additional 2,027 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of NIO by 0.9% during the second quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock valued at $985,000 after purchasing an additional 2,433 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in NIO by 11.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 24,884 shares of the company’s stock valued at $127,000 after purchasing an additional 2,586 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in NIO by 26.4% during the fourth quarter. Wealthspire Advisors LLC now owns 12,980 shares of the company’s stock valued at $66,000 after purchasing an additional 2,707 shares during the period. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.