NIO (NYSE:NIO) Trading 4.6% Higher - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) was up 4.6% during mid-day trading on Tuesday . The company traded as high as $4.00 and last traded at $3.99. Approximately 18,150,939 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 56,991,563 shares. The stock had previously closed at $3.81.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of recent research reports. Citigroup lowered their price objective on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research note on Monday, March 24th. Mizuho cut their price target on NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of "Hold" and an average price target of $5.17.

NIO Stock Performance

The company's 50-day moving average price is $4.38 and its two-hundred day moving average price is $4.77. The company has a market cap of $7.21 billion, a P/E ratio of -2.29 and a beta of 1.74. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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NIO (NYSE:NIO - Get Free Report) last issued 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 business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.81) earnings per share. As a group, equities analysts forecast that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds have recently modified their holdings of the stock. PDS Planning Inc raised its holdings in NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after buying an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after acquiring an additional 2,712 shares during the period. Franklin Resources Inc. lifted its position in shares of NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after acquiring an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after purchasing an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock worth $94,000 after purchasing an additional 3,152 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other 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.