NIO (NYSE:NIO) Trading 8.5% Higher

Nio Inc – (NYSE:NIO) traded up 8.5% during mid-day trading on Friday . The company traded as high as $4.51 and last traded at $4.48. 31,893,164 shares were traded during trading, a decline of 42% from the average session volume of 55,115,828 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Mizuho reaffirmed a “neutral” rating and set a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Jefferies Financial Group decreased their price target on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Barclays reiterated an “underweight” rating and issued a $4.00 price target (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Macquarie started coverage on NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $8.43.

NIO Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $5.02 and a 200 day simple moving average of $6.58. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of -2.57 and a beta of 1.93.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. As a group, analysts anticipate that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gainplan LLC boosted its position in shares of NIO by 27.1% during the first quarter. Gainplan LLC now owns 15,845 shares of the company’s stock worth $71,000 after buying an additional 3,377 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NIO by 10.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 701,076 shares of the company’s stock worth $3,155,000 after purchasing an additional 66,228 shares in the last quarter. Axim Planning & Wealth raised its holdings in NIO by 56.2% during the first quarter. Axim Planning & Wealth now owns 40,285 shares of the company’s stock worth $181,000 after purchasing an additional 14,500 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after purchasing an additional 6,875 shares in the last quarter. Finally, BSW Wealth Partners bought a new stake in NIO during the first quarter worth approximately $46,000. 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.