NIO (NYSE:NIO) Stock Price Up 3.2% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was up 3.2% during mid-day trading on Tuesday . The company traded as high as $3.75 and last traded at $3.72. Approximately 16,509,941 shares changed hands during trading, a decline of 69% from the average daily volume of 52,882,723 shares. The stock had previously closed at $3.60.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. Mizuho cut their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Finally, Citigroup restated a "buy" rating on shares of NIO in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $4.76.

NIO Stock Performance

The company has a market capitalization of $7.83 billion, a P/E ratio of -2.48 and a beta of 1.62. The stock's fifty day moving average price is $3.76 and its 200-day moving average price is $4.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter last year, the company posted ($2.39) EPS. The firm's revenue was up 21.5% on a year-over-year basis. As a group, research analysts anticipate that Nio Inc - will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NIO by 3,966.7% in 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 valued at $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of NIO by 39.1% in the 1st quarter. Advisors Asset Management Inc. now owns 123,467 shares of the company's stock valued at $470,000 after purchasing an additional 34,678 shares in the last quarter. Rafferty Asset Management LLC grew its position in NIO by 38.9% in the first quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company's stock valued at $191,000 after acquiring an additional 14,028 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in NIO by 49.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company's stock valued at $70,000 after purchasing an additional 6,078 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in shares of NIO by 25.5% during the 1st quarter. Compound Planning Inc. now owns 33,746 shares of the company's stock valued at $129,000 after acquiring an additional 6,865 shares in the last quarter. 48.55% of the stock is 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.