NIO (NYSE:NIO) Shares Up 2.6% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) shares traded up 2.6% on Tuesday . The company traded as high as $3.68 and last traded at $3.70. 11,158,430 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 55,996,585 shares. The stock had previously closed at $3.60.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NIO. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Mizuho lowered their price target on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a report on Thursday, April 10th. Citigroup reissued a "buy" rating on shares of NIO in a report on Monday. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.05.

NIO Stock Performance

The firm has a market capitalization of $8.97 billion, a P/E ratio of -2.85 and a beta of 1.74. The company has a 50-day moving average of $4.12 and a 200-day moving average of $4.46. 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 - Get Free Report) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the business earned ($2.81) earnings per share. NIO's revenue was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. SG Americas Securities LLC raised its stake in NIO by 83.3% during the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after buying an additional 958,750 shares during the last quarter. Bridgewater Associates LP raised its position in shares of NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after acquiring an additional 263,338 shares in the last quarter. Swedbank AB lifted its stake in shares of NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after purchasing an additional 9,000 shares during the period. SIH Partners LLLP boosted its position in shares of NIO by 23.1% during the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in NIO during the fourth quarter worth approximately $3,305,000. Institutional investors and hedge funds 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.