NIO (NYSE:NIO) Shares Gap Up to $4.16

Nio Inc – (NYSE:NIO) gapped up before the market opened on Monday . The stock had previously closed at $4.16, but opened at $4.35. NIO shares last traded at $4.29, with a volume of 13,119,297 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NIO shares. Mizuho reissued a “neutral” rating and set a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. Macquarie initiated coverage on shares of NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective on the stock. Bank of America boosted their target price on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Sanford C. Bernstein dropped their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Finally, Citigroup lowered their price target on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Stock Performance

The business’s 50-day moving average price is $4.86 and its 200-day moving average price is $5.67. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. Analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bfsg LLC acquired a new stake in shares of NIO in the 4th quarter worth $33,000. Rakuten Securities Inc. acquired a new stake in NIO in the fourth quarter valued at about $38,000. Newbridge Financial Services Group Inc. lifted its position in NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after purchasing an additional 6,875 shares during the period. Principal Securities Inc. acquired a new position in NIO during the 4th quarter worth approximately $42,000. Finally, BSW Wealth Partners acquired a new position in NIO during the 1st quarter worth approximately $46,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.