NIO (NYSE:NIO) Shares Climb 3.3% – What’s Next?

NIO Inc. (NYSE:NIO) rose 3.3% during mid-day trading on Wednesday. The stock traded as high as $3.41 and last traded at $3.2950. 45,507,509 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 36,459,375 shares. The stock had previously closed at $3.19.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank Of Canada lowered NIO to a “sector perform” rating in a report on Thursday, September 3rd. Citigroup restated a “buy” rating on shares of NIO in a research note on Tuesday, September 1st. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Tuesday, October 27th. Sanford C. Bernstein reduced their target price on NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 2nd. Finally, Freedom Broker cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.78.

NIO Stock Up 3.3%

The stock has a market capitalization of $8.18 billion, a PE ratio of -12.20 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The company’s 50-day moving average is $3.60 and its 200 day moving average is $4.87.

NIO (NYSE:NIO) last released its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. The company had revenue of $4.73 billion for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. As a group, analysts anticipate that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. V Square Quantitative Management LLC increased its position in shares of NIO by 17.4% in the 1st quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock valued at $83,000 after acquiring an additional 2,027 shares during the period. 180 Wealth Advisors LLC raised its stake in NIO by 4.4% in the 3rd quarter. 180 Wealth Advisors LLC now owns 81,171 shares of the company’s stock worth $278,000 after acquiring an additional 3,387 shares during the last quarter. Engineers Gate Manager LP raised its stake in NIO by 2.4% in the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock worth $774,000 after acquiring an additional 3,537 shares during the last quarter. Van ECK Associates Corp raised its stake in NIO by 0.8% in the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company’s stock worth $2,493,000 after acquiring an additional 4,002 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after acquiring an additional 4,383 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.