NIO Inc. (NYSE:NIO - Get Free Report) rose 6.9% during trading on Friday . The company traded as high as $4.05 and last traded at $3.95. Approximately 65,773,124 shares changed hands during trading, an increase of 25% from the average daily volume of 52,447,984 shares. The stock had previously closed at $3.69.
Wall Street Analyst Weigh In
NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and upped their price objective for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. Mizuho dropped their target price on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. Barclays dropped their target price on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. Finally, Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, NIO currently has an average rating of "Hold" and a consensus target price of $4.74.
Check Out Our Latest Report on NIO
NIO Stock Performance
The stock has a market cap of $8.16 billion, a PE ratio of -2.41 and a beta of 1.55. The stock has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $4.03. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84.
NIO (NYSE:NIO - Get Free Report) last released 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). The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The firm's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.39) EPS. Equities analysts anticipate that NIO Inc. will post -1.43 EPS for the current fiscal year.
Hedge Funds Weigh In On NIO
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NIO by 3,966.7% in the 1st 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 acquiring an additional 5,185,565 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in NIO in the 2nd quarter worth approximately $12,315,000. SG Americas Securities LLC boosted its stake in shares of 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 buying an additional 958,750 shares during the last quarter. Bridgewater Associates LP boosted its stake in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after buying an additional 263,338 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of NIO by 96.6% during the 1st quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock valued at $3,964,000 after buying an additional 510,610 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.
NIO Company Profile
(
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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.
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