NIO (NYSE:NIO) Stock Price Up 5.1% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s share price rose 5.1% during trading on Monday . The stock traded as high as $3.71 and last traded at $3.70. Approximately 19,033,048 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 56,300,926 shares. The stock had previously closed at $3.52.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho reduced their price objective 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. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Citigroup reduced their target price on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.05.

NIO Stock Up 0.1 %

The firm has a market capitalization of $7.36 billion, a PE ratio of -2.33 and a beta of 1.74. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business's 50-day moving average price is $4.18 and its 200-day moving average price is $4.61.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (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 quarterly revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts predict that Nio Inc - will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NIO. Blue Trust Inc. grew its holdings in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in NIO by 131.8% in the 4th 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 period. Callan Family Office LLC acquired a new position in NIO during the 4th quarter worth $44,000. Sava Infond d.o.o. bought a new stake in NIO during the fourth quarter valued at about $44,000. Finally, Trilogy Capital Inc. acquired a new stake in shares of NIO in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.