NIO (NYSE:NIO) Stock Price Up 0.9% – Here’s Why

Nio Inc – (NYSE:NIO) shot up 0.9% on Monday . The stock traded as high as $3.84 and last traded at $3.79. 32,109,547 shares were traded during trading, a decline of 42% from the average session volume of 55,762,847 shares. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NIO shares. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Citigroup decreased their price objective on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. Cfra Research raised NIO to a “hold” rating in a research note on Friday, March 21st. Finally, Mizuho cut their target price on shares of NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.00.

NIO Stock Up 2.0 %

The company’s fifty day simple moving average is $4.43 and its 200 day simple moving average is $4.83. The firm has a market capitalization of $7.98 billion, a P/E ratio of -2.53 and a beta of 1.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.81) earnings per share. Research analysts expect that Nio Inc – will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. FMR LLC increased its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd grew its holdings in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Bridgewater Associates LP increased its stake in shares of NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after purchasing an additional 263,338 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 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.