NIO (NYSE:NIO) Trading Up 1.7% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s share price was up 1.7% during trading on Friday . The company traded as high as $3.46 and last traded at $3.34. Approximately 17,481,775 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 56,293,954 shares. The stock had previously closed at $3.28.

Wall Street Analysts Forecast Growth

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

NIO Stock Performance

The business has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $4.65. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market cap of $7.55 billion, a P/E ratio of -2.39 and a beta of 1.74.

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NIO (NYSE:NIO - Get Free Report) last posted its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm's revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted ($2.81) EPS. On average, sell-side 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 bought and sold shares of NIO. Toronto Dominion Bank lifted its holdings in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. Sanctuary Advisors LLC raised its position in NIO by 63.1% during the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after purchasing an additional 32,069 shares during the period. Tidal Investments LLC increased its position in NIO by 2.4% during the third quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock valued at $1,871,000 after acquiring an additional 6,545 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in NIO during the 3rd quarter valued at about $374,000. Finally, Principal Financial Group Inc. grew its position in NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after acquiring an additional 43,839 shares during the last quarter. Hedge funds and other 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.