NIO (NYSE:NIO) Trading Up 1.8% - Here's What Happened

Key Points

• NIO's shares rose by 1.8% to last trade at $4.70, despite a significant decline in trading volume.
• Recent analyst reports show a mixed outlook, with target price cuts from Mizuho and Barclays, while Goldman Sachs upgraded its rating to "neutral".
• The company reported a loss of $0.45 EPS for the latest quarter, missing estimates, although revenue increased by 21.5% year-over-year.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price was up 1.8% during trading on Thursday . The stock traded as high as $4.72 and last traded at $4.70. Approximately 11,062,149 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 51,405,680 shares. The stock had previously closed at $4.61.

Analyst Ratings Changes

Several equities analysts recently commented on NIO shares. Morgan Stanley reiterated a "buy" rating on shares of NIO in a research note on Monday, July 14th. Barclays decreased their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. Mizuho decreased their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Citigroup reissued a "buy" rating on shares of NIO in a research note on Monday, April 28th. Finally, The Goldman Sachs Group raised 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 note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.74.

NIO Stock Up 3.4%

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The company has a market capitalization of $10.10 billion, a P/E ratio of -2.99 and a beta of 1.42. The company has a 50 day moving average of $3.98 and a 200-day moving average of $4.06.

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 the consensus estimate 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 company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. During the same quarter last year, the business earned ($2.39) earnings per share. The business's quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities analysts anticipate that NIO Inc. will post -1.43 EPS for the current year.

Institutional Trading of NIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. purchased a new stake in NIO in the first quarter worth about $39,000. Blueshift Asset Management LLC purchased a new position in shares of NIO during the first quarter valued at approximately $43,000. Annex Advisory Services LLC purchased a new position in shares of NIO during the first quarter valued at approximately $47,000. Hedeker Wealth LLC purchased a new position in shares of NIO during the second quarter valued at approximately $43,000. Finally, May Hill Capital LLC purchased a new position in shares of NIO during the first quarter valued at approximately $48,000. 48.55% of the stock is currently 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.