NIO (NYSE:NIO) Stock Price Up 3.3%

Shares of Nio Inc – (NYSE:NIO) traded up 3.3% during mid-day trading on Tuesday . The stock traded as high as $5.70 and last traded at $5.58. 17,797,006 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 52,100,949 shares. The stock had previously closed at $5.40.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup decreased their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Bank of America raised their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Stock Down 7.0 %

The firm’s 50-day simple moving average is $4.39 and its 200 day simple moving average is $4.69. 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 market capitalization of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. The firm’s revenue was up 98.9% on a year-over-year basis. As a group, equities research analysts forecast that Nio Inc – will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in NIO in the fourth quarter valued at $42,000. Jump Financial LLC grew its stake in NIO by 52.5% in the 4th quarter. Jump Financial LLC now owns 48,556 shares of the company’s stock valued at $440,000 after acquiring an additional 16,716 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in NIO by 11.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after acquiring an additional 2,092 shares in the last quarter. Norges Bank acquired a new position in NIO during the fourth quarter worth about $9,652,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of NIO in the fourth quarter valued at about $715,000. 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.