NIO (NYSE:NIO) Shares Gap Up - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $3.31, but opened at $3.38. NIO shares last traded at $3.28, with a volume of 11,437,249 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NIO shares. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho reduced their target price on NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a report on Thursday. Citigroup lowered their price target on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a report on Monday, March 24th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Cfra Research upgraded shares of NIO to a "hold" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, NIO presently has an average rating of "Hold" and an average target price of $5.05.

NIO Stock Performance

The firm has a market cap of $7.53 billion, a price-to-earnings ratio of -2.39 and a beta of 1.74. The firm's 50 day moving average price is $4.23 and its 200-day moving average price is $4.67. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.81) earnings per share. On average, analysts anticipate that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds have recently modified their holdings of NIO. Trexquant Investment LP acquired a new position in shares of NIO in the fourth quarter valued at $3,305,000. SG Americas Securities LLC increased its holdings in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after buying an additional 589,082 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NIO in the 4th quarter valued at $1,776,000. XY Capital Ltd bought a new position in shares of NIO during the 4th quarter worth about $1,544,000. Finally, AI Squared Management Ltd acquired a new stake in shares of NIO during the 4th quarter valued at about $1,491,000. Institutional investors own 48.55% of the company's stock.

NIO Company Profile

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.