NIO (NYSE:NIO) Stock Price Up 1.6% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) was up 1.6% on Monday . The stock traded as high as $3.59 and last traded at $3.57. Approximately 8,307,418 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 52,727,519 shares. The stock had previously closed at $3.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NIO shares. Barclays lowered their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Mizuho lowered their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Finally, Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. 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 issued a strong buy rating to the stock. According to MarketBeat.com, NIO has an average rating of "Hold" and a consensus target price of $4.76.

NIO Price Performance

The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.33 and a beta of 1.62. The stock has a fifty day simple moving average of $3.79 and a 200-day simple moving average of $4.17. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the previous year, the firm posted ($2.39) earnings per share. The company's revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts anticipate that Nio Inc - will post -1.43 EPS for the current year.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 buying an additional 5,185,565 shares in the last quarter. SG Americas Securities LLC increased its position in shares of NIO by 83.3% in the first 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 in the last quarter. Bridgewater Associates LP increased its position in shares of NIO by 28.6% in the fourth 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 in the last quarter. Hsbc Holdings PLC increased its position in shares of NIO by 96.6% in the first 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 in the last quarter. Finally, SIH Partners LLLP increased its position in shares of NIO by 23.1% in the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after buying an additional 175,000 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other 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.