NIO (NYSE:NIO) Stock Price Up 5.3% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price traded up 5.3% on Wednesday . The company traded as high as $3.96 and last traded at $3.95. 17,326,187 shares were traded during mid-day trading, a decline of 69% from the average session volume of 55,938,226 shares. The stock had previously closed at $3.75.

Analyst Ratings Changes

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

NIO Stock Performance

The stock has a market capitalization of $8.40 billion, a P/E ratio of -2.67 and a beta of 1.74. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average of $4.13 and a 200 day moving average of $4.50.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company earned ($2.81) EPS. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts anticipate that Nio Inc - will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

A number of large investors have recently bought and sold shares of NIO. SG Americas Securities LLC grew its holdings in shares of NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after purchasing an additional 958,750 shares during the last quarter. Bridgewater Associates LP grew its stake in NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after buying an additional 263,338 shares during the last quarter. Swedbank AB increased its holdings in shares of NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after buying an additional 9,000 shares in the last quarter. SIH Partners LLLP raised its stake in shares of NIO by 23.1% in the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of NIO in the 4th quarter worth approximately $3,305,000. 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.