NIO (NYSE:NIO) Trading 3.5% Higher - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s share price traded up 3.5% during trading on Wednesday . The stock traded as high as $4.80 and last traded at $4.79. 37,864,301 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 56,614,902 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

NIO has been the topic of a number of analyst reports. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research report on Thursday, September 5th. Daiwa America upgraded NIO to a "strong-buy" rating in a research note on Monday, September 30th. Citigroup dropped their price objective on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. Finally, JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and raised their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.91.

NIO Stock Up 0.9 %

The company has a 50-day moving average of $5.53 and a two-hundred day moving average of $4.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market capitalization of $8.03 billion, a PE ratio of -3.12 and a beta of 1.91.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analysts' expectations of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm's revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) earnings per share. Sell-side analysts anticipate that Nio Inc - will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of NIO

Large investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. increased its position in NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company's stock worth $75,000 after purchasing an additional 2,038 shares during the last quarter. Ballentine Partners LLC increased its stake in NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company's stock worth $160,000 after acquiring an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock valued at $129,000 after purchasing an additional 2,588 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock worth $61,000 after purchasing an additional 2,651 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of NIO by 4.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company's stock valued at $262,000 after purchasing an additional 2,915 shares during the last quarter. 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.

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