NIO (NYSE:NIO) Trading 3.3% Higher

Nio Inc - (NYSE:NIO - Get Free Report) was up 3.3% during mid-day trading on Tuesday . The company traded as high as $5.70 and last traded at $5.58. Approximately 17,797,006 shares changed hands during trading, a decline of 66% from the average daily volume of 52,100,949 shares. The stock had previously closed at $5.40.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NIO shares. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Citigroup dropped their price objective on shares of NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Bank of America raised their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NIO currently has a consensus rating of "Hold" and an average price target of $5.93.

NIO Stock Performance

The stock has a market cap of $9.30 billion, a P/E ratio of -3.20 and a beta of 1.82. 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 firm's 50-day moving average price is $4.37 and its 200-day moving average price is $4.69.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $17.45 billion for the quarter, compared to analysts' expectations of $17.49 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The company's revenue for the quarter was up 98.9% compared to the same quarter last year. Sell-side analysts expect that Nio Inc - will post -1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in NIO during the second quarter worth $228,000. Truist Financial Corp boosted its stake in shares of NIO by 32.2% during the second quarter. Truist Financial Corp now owns 25,253 shares of the company's stock valued at $105,000 after purchasing an additional 6,150 shares during the period. Creative Planning boosted its stake in shares of NIO by 34.7% during the second quarter. Creative Planning now owns 268,318 shares of the company's stock valued at $1,116,000 after purchasing an additional 69,143 shares during the period. SIH Partners LLLP boosted its stake in shares of NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company's stock valued at $2,760,000 after purchasing an additional 338,320 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of NIO by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company's stock valued at $753,000 after purchasing an additional 17,467 shares during the period. 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.