NIO (NYSE:NIO) Trading Up 2.9% - What's Next?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) rose 2.9% during mid-day trading on Friday . The company traded as high as $4.15 and last traded at $4.05. Approximately 11,769,826 shares traded hands during trading, a decline of 79% from the average daily volume of 54,894,941 shares. The stock had previously closed at $3.93.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NIO. Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Mizuho dropped their target price 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.05.

NIO Stock Performance

The company's 50-day simple moving average is $4.10 and its 200-day simple moving average is $4.41. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of -2.67 and a beta of 1.73. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

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

Hedge Funds Weigh In On NIO

A number of large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp increased its stake in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after acquiring an additional 4,332 shares during the last quarter. Sava Infond d.o.o. purchased a new stake in shares of NIO during the fourth quarter worth $44,000. Callan Family Office LLC acquired a new stake in NIO during the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO in the fourth quarter valued at about $45,000. 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.