NIO (NYSE:NIO) Trading Up 2.2%

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price rose 2.2% during mid-day trading on Thursday . The stock traded as high as $4.80 and last traded at $4.72. Approximately 23,204,146 shares changed hands during trading, a decline of 57% from the average daily volume of 54,164,336 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Macquarie assumed coverage on NIO in a research report on Monday, April 15th. They set a "neutral" rating and a $5.00 price objective for the company. JPMorgan Chase & Co. upgraded NIO from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. Mizuho restated a "neutral" rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Bank of America boosted their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a "neutral" rating in a research note on Friday, June 7th. Finally, UBS Group decreased their price target on shares of NIO from $8.00 to $7.20 and set a "neutral" rating for the company in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.55.

NIO Stock Up 1.0 %

The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of -2.76 and a beta of 1.86. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $4.87 and a two-hundred day moving average of $5.48.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, sell-side analysts anticipate that Nio Inc - will post -1.41 earnings per share for the current year.

Institutional Trading of NIO

Several large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company's stock valued at $10,430,000 after purchasing an additional 439,474 shares during the period. Electron Capital Partners LLC boosted its stake in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock valued at $40,180,000 after purchasing an additional 235,521 shares during the period. Los Angeles Capital Management LLC bought a new stake in NIO during the 1st quarter valued at approximately $448,000. Quadrature Capital Ltd bought a new stake in NIO during the 4th quarter valued at approximately $12,361,000. Finally, Van ECK Associates Corp lifted its position in shares of NIO by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 536,774 shares of the company's stock worth $4,869,000 after acquiring an additional 47,773 shares during the period. Institutional investors own 48.55% of the company's stock.

About NIO

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.