NIO (NYSE:NIO) Shares Up 2.6% - Here's Why

Shares of Nio Inc - (NYSE:NIO - Get Free Report) rose 2.6% during trading on Friday . The company traded as high as $4.84 and last traded at $4.82. Approximately 17,736,797 shares were traded during trading, a decline of 69% from the average daily volume of 56,676,125 shares. The stock had previously closed at $4.70.

Analyst Ratings Changes

Several research analysts have recently issued reports on NIO shares. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $6.60 to $4.80 in a report on Wednesday. Finally, Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $5.91.

NIO Stock Up 2.6 %

The business's 50 day simple moving average is $5.52 and its 200 day simple moving average is $4.91. The company has a market capitalization of $8.29 billion, a PE ratio of -3.20 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The firm's revenue was up 98.9% compared to the same quarter last year. As a group, analysts forecast that Nio Inc - will post -1.38 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of large investors have recently made changes to their positions in NIO. Ridgewood Investments LLC acquired a new stake in shares of NIO during the second quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in NIO in the 3rd quarter valued at approximately $32,000. Baader Bank Aktiengesellschaft acquired a new position in NIO in the 2nd quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock valued at $61,000 after buying an additional 2,651 shares during the period. Finally, Caprock Group LLC acquired a new position in NIO in the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.