NIO (NYSE:NIO) Trading 2.1% Higher - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) traded up 2.1% on Friday . The company traded as high as $4.12 and last traded at $4.08. 10,589,363 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 53,969,048 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Mizuho dropped their price target on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Finally, Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIO currently has a consensus rating of "Hold" and an average target price of $5.05.

NIO Trading Up 2.4%

The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of -2.71 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm's 50-day simple moving average is $4.02 and its 200 day simple moving average is $4.34.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PDS Planning Inc increased its holdings in shares of NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after buying an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after purchasing an additional 2,712 shares during the period. Franklin Resources Inc. increased its holdings in NIO by 20.4% in the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares during the period. Perigon Wealth Management LLC increased its holdings in NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after purchasing an additional 2,867 shares during the period. Finally, Tempus Wealth Planning LLC increased its holdings in NIO by 7.4% in the first quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company's stock valued at $163,000 after purchasing an additional 2,943 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.