NIO (NYSE:NIO) Shares Up 4.3% - Here's What Happened

Key Points

• NIO Inc. stock rose by 4.3% to a last traded price of $4.71, despite a trading volume that was 25% lower than its average.
• Wall Street analysts have mixed opinions on NIO, with a consensus rating of "Hold" and an average price target of $4.74.
• In its latest earnings report, NIO missed consensus estimates with an EPS of ($0.45) and revenue of $1.66 billion, significantly below expectations of $12.46 billion.

NIO Inc. (NYSE:NIO - Get Free Report) shares rose 4.3% on Thursday . The company traded as high as $4.68 and last traded at $4.71. Approximately 38,028,551 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 50,466,207 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

NIO has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a research report on Monday, July 14th. The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and upped their target price for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. Finally, Mizuho decreased their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.74.

NIO Stock Performance

The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. The business's fifty day simple moving average is $3.86 and its 200-day simple moving average is $4.05. The firm has a market capitalization of $10.24 billion, a PE ratio of -3.03 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. During the same period last year, the business earned ($2.39) earnings per share. The company's quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts expect that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after buying an additional 5,185,565 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in NIO during the 2nd quarter valued at about $12,315,000. SG Americas Securities LLC increased its position in NIO by 83.3% during the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after purchasing an additional 958,750 shares during the period. Trexquant Investment LP bought a new position in shares of NIO in the 4th quarter worth $3,305,000. Finally, Vontobel Holding Ltd. raised its holdings in NIO by 125.2% in the second quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company's stock worth $3,754,000 after purchasing an additional 608,377 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

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.