Nio Inc - (NYSE:NIO) Sees Large Decrease in Short Interest

Nio Inc - (NYSE:NIO - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 163,810,000 shares, a decrease of 15.6% from the August 31st total of 194,060,000 shares. Based on an average daily trading volume, of 48,320,000 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They set a "peer perform" rating on the stock. Citigroup cut their target price on shares of NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.93.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its stake in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the period. Electron Capital Partners LLC lifted its stake in shares of NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock worth $40,180,000 after acquiring an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company's stock worth $10,950,000 after acquiring an additional 535,400 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company's stock worth $10,430,000 after acquiring an additional 439,474 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of NIO by 64.6% in the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company's stock worth $8,530,000 after acquiring an additional 744,067 shares during the period. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Stock Up 12.8 %

Shares of NIO stock traded up $0.74 during trading hours on Friday, hitting $6.52. The company had a trading volume of 180,982,054 shares, compared to its average volume of 54,206,633. The company's 50-day moving average is $4.54 and its two-hundred day moving average is $4.68. NIO has a twelve month low of $3.61 and a twelve month high of $9.57. 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 cap of $11.21 billion, a P/E ratio of -3.86 and a beta of 1.82.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $17.49 billion. During the same quarter in the prior year, the business posted ($0.51) EPS. The company's revenue for the quarter was up 98.9% on a year-over-year basis. Analysts anticipate that NIO will post -1.37 earnings per share for the current fiscal year.

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.