NIO (NYSE:NIO) Shares Up 1.1% – Here’s What Happened

Shares of NIO Inc. (NYSE:NIO) shot up 1.1% during mid-day trading on Thursday . The company traded as high as $5.29 and last traded at $5.2350. 26,447,342 shares changed hands during trading, a decline of 38% from the average session volume of 42,352,637 shares. The stock had previously closed at $5.18.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NIO. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 price target on shares of NIO in a research report on Friday, May 22nd. Finally, HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.70.

NIO Stock Up 1.1%

The firm’s 50-day moving average price is $6.03 and its 200 day moving average price is $5.41. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of -9.52 and a beta of 0.92. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

NIO (NYSE:NIO) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. The business had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. Sell-side analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Trading of NIO

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

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.