NIO (NYSE:NIO) Sees Unusually-High Trading Volume - Here's Why

Shares of NIO Inc. (NYSE:NIO - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 55,582,690 shares were traded during trading, an increase of 18% from the previous session's volume of 47,087,156 shares.The stock last traded at $3.98 and had previously closed at $3.69.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NIO shares. Barclays decreased their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. The Goldman Sachs Group upgraded shares of NIO from a "sell" rating to a "neutral" rating and raised their price objective for the company from $3.70 to $3.80 in a research report on Tuesday, June 17th. Mizuho decreased their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Finally, Citigroup reaffirmed a "buy" rating on shares of NIO in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Stock Up 6.0%

The firm has a market capitalization of $8.16 billion, a PE ratio of -2.41 and a beta of 1.55. The business's 50 day simple moving average is $3.69 and its 200 day simple moving average is $4.03. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. During the same period in the previous year, the business earned ($2.39) earnings per share. The business's quarterly revenue was up 21.5% on a year-over-year basis. On average, equities research analysts forecast that NIO Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the business. SIH Partners LLLP boosted its stake in shares of NIO by 23.1% during the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after purchasing an additional 175,000 shares during the period. Arizona PSPRS Trust purchased a new position in shares of NIO during the 4th quarter worth about $1,330,000. Raymond James Financial Inc. purchased a new position in shares of NIO during the 4th quarter worth about $1,776,000. Bridgewater Associates LP boosted its stake in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of NIO during the 4th quarter worth about $3,305,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.