NIO (NYSE:NIO) Trading 1.5% Higher

Nio Inc – (NYSE:NIO) shares traded up 1.5% during mid-day trading on Monday . The stock traded as high as $5.38 and last traded at $5.36. 21,343,275 shares traded hands during trading, a decline of 59% from the average session volume of 52,365,586 shares. The stock had previously closed at $5.28.

Analyst Upgrades and Downgrades

NIO has been the subject of several research analyst reports. Wolfe Research initiated coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, NIO has an average rating of “Hold” and an average target price of $5.93.

NIO Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The company has a 50 day moving average of $4.42 and a two-hundred day moving average of $4.68. The stock has a market cap of $9.15 billion, a PE ratio of -3.24 and a beta of 1.82.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) EPS. Sell-side analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in NIO in the second quarter valued at approximately $25,000. Principal Securities Inc. acquired a new position in NIO in the fourth quarter valued at approximately $42,000. Sound Income Strategies LLC lifted its holdings in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after acquiring an additional 10,000 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in NIO in the first quarter valued at approximately $51,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in NIO in the second quarter valued at approximately $53,000. 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.