NIO (NYSE:NIO) Shares Up 1.8% - What's Next?

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) rose 1.8% during trading on Thursday . The company 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho reduced their target price on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Barclays cut their target price on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, Morgan Stanley reiterated a "buy" rating on shares of NIO in a report on Monday, July 14th. One equities research 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Trading Up 1.4%

The firm has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $4.06. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The company has a market cap of $9.76 billion, a price-to-earnings ratio of -2.89 and a beta of 1.42.

NIO (NYSE:NIO - Get Free Report) last released 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 net margin of 35.51% and a negative return on equity of 286.45%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter in the prior year, the firm earned ($2.39) EPS. The company's revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts forecast that NIO Inc. will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Xponance Inc. purchased a new stake in NIO in the first quarter valued at approximately $39,000. Blueshift Asset Management LLC purchased a new stake in NIO in the 1st quarter worth approximately $43,000. Annex Advisory Services LLC purchased a new position in shares of NIO in the 1st quarter valued at approximately $47,000. May Hill Capital LLC bought a new stake in shares of NIO in the 1st quarter worth approximately $48,000. Finally, Concurrent Investment Advisors LLC bought a new position in NIO in the 1st quarter worth about $50,000. 48.55% of the stock is currently owned by 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.

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