NIO (NYSE:NIO) Shares Up 3.3% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price rose 3.3% during trading on Tuesday . The company traded as high as $5.38 and last traded at $5.31. Approximately 15,323,737 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 56,483,656 shares. The stock had previously closed at $5.14.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NIO shares. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Bank of America upped their price target 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, Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $6.11.

NIO Price Performance

The firm’s fifty day simple moving average is $5.45 and its two-hundred day simple moving average is $4.89. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm has a market cap of $9.08 billion, a PE ratio of -3.49 and a beta of 1.91.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the previous year, the company posted ($0.51) EPS. The company’s revenue was up 98.9% compared to the same quarter last year. As a group, research analysts expect that Nio Inc – will post -1.37 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of NIO during the second quarter valued at approximately $1,076,000. International Assets Investment Management LLC increased its holdings in NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after buying an additional 334,723 shares during the period. Signaturefd LLC increased its holdings in shares of NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after acquiring an additional 7,014 shares during the period. Bank of New York Mellon Corp boosted its holdings in NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after acquiring an additional 343,910 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares in the last quarter. Hedge funds and other 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.