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

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price traded up 2.6% during trading on Tuesday . The stock traded as high as $3.68 and last traded at $3.70. 11,158,430 shares traded hands during trading, a decline of 80% from the average session volume of 55,996,585 shares. The stock had previously closed at $3.60.

Analyst Upgrades and Downgrades

NIO has been the topic of several analyst reports. Citigroup cut their target price on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday, March 24th. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Mizuho decreased their target price on NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.05.

NIO Trading Up 6.2 %

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 stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of -2.76 and a beta of 1.74. The business has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $4.52.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share 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 net margin of 33.41% and a negative return on equity of 113.83%. NIO's revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.81) earnings per share. As a group, research analysts expect that Nio Inc - will post -1.43 EPS for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently modified their holdings of NIO. Blue Trust Inc. increased its holdings in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after buying an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after buying an additional 4,332 shares during the last quarter. Sava Infond d.o.o. bought a new stake in NIO during the 4th quarter worth approximately $44,000. Callan Family Office LLC bought a new position in shares of NIO during the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. acquired a new position in shares of NIO during the fourth quarter worth $45,000. 48.55% of the stock is currently owned by institutional investors.

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.

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