NIO (NYSE:NIO) Stock Price Up 4.8% – Here’s What Happened

Shares of NIO Inc. (NYSE:NIO) traded up 4.8% during mid-day trading on Monday . The stock traded as high as $5.10 and last traded at $5.02. 27,032,975 shares traded hands during trading, a decline of 34% from the average session volume of 40,795,070 shares. The stock had previously closed at $4.79.

Wall Street Analyst Weigh In

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

NIO Stock Up 4.8%

The firm has a market cap of $12.47 billion, a price-to-earnings ratio of -9.13 and a beta of 0.90. The stock has a 50-day moving average of $5.55 and a 200-day moving average of $5.38. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.

NIO (NYSE:NIO) last issued its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $4.95 billion for the quarter. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%. As a group, sell-side analysts forecast that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Trading of NIO

Several hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp grew its position in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the last quarter. Arax Advisory Partners raised its holdings in shares of NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of NIO during the fourth quarter valued at approximately $41,000. Merkkuri Wealth Advisors LLC acquired a new position in shares of NIO during the first quarter worth approximately $41,000. Finally, MV Capital Management Inc. acquired a new position in shares of NIO during the fourth quarter worth approximately $42,000. 48.55% of the stock is currently owned by institutional investors.

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.