NIO (NYSE:NIO) Trading Up 1% - Here's What Happened

Key Points

• NIO shares ticked up about 1% to $6.495 on Wednesday, trading as high as $6.61 on volume of ~19.7 million shares, roughly 55% below the stock's average session volume.
• Several brokers recently upgraded NIO (Nomura, HSBC, DBS), but the MarketBeat consensus remains a "Hold" with a consensus price target of $6.80.
• Fundamentals show a market cap of $14.92 billion, a negative P/E (-6.70) and net margin (-17.21%); the company reported $0.04 EPS and $4.95 billion revenue last quarter, while analysts forecast -0.28 EPS for the current fiscal year.

NIO Inc. (NYSE:NIO - Get Free Report) traded up 1% on Wednesday . The stock traded as high as $6.61 and last traded at $6.4950. 19,686,460 shares changed hands during trading, a decline of 55% from the average session volume of 44,229,871 shares. The stock had previously closed at $6.43.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NIO. Nomura upgraded NIO from a "neutral" rating to a "buy" rating and set a $6.60 price objective on the stock in a research report on Wednesday, March 11th. Bank of America reissued a "neutral" rating on shares of NIO in a research note on Tuesday, March 10th. HSBC upgraded NIO from a "hold" rating to a "buy" rating and boosted their price target for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NIO in a research note on Monday, December 29th. Finally, Dbs Bank upgraded shares of NIO from a "hold" rating to a "moderate buy" rating in a report on Monday, March 16th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, NIO presently has a consensus rating of "Hold" and a consensus price target of $6.80.

NIO Price Performance

The company has a fifty day simple moving average of $5.64 and a 200 day simple moving average of $5.64. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of -6.70 and a beta of 0.99. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The company had revenue of $4.95 billion during the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%. Equities research analysts forecast that NIO Inc. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. Aspex Management HK Ltd acquired a new stake in shares of NIO during the third quarter worth $266,700,000. WT Asset Management Ltd acquired a new position in NIO in the third quarter valued at $142,120,000. Ghisallo Capital Management LLC bought a new stake in NIO during the third quarter valued at $91,440,000. Voloridge Investment Management LLC bought a new stake in NIO during the third quarter valued at $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new stake in NIO during the 3rd quarter worth about $79,761,000. Institutional investors and hedge funds own 48.55% of the company's stock.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO's vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company's product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.

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