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

Shares of NIO Inc. (NYSE:NIO - Get Free Report) rose 1.6% on Tuesday . The stock traded as high as $3.46 and last traded at $3.47. Approximately 12,701,721 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 52,085,851 shares. The stock had previously closed at $3.41.

Analysts Set New Price Targets

NIO has been the topic of several research analyst reports. Barclays cut their price objective on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Mizuho cut their price objective on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Cfra Research raised NIO to a "hold" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and upped their price target for the company from $3.70 to $3.80 in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.74.

NIO Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average price of $3.70 and a 200 day moving average price of $4.04. The stock has a market cap of $7.50 billion, a PE ratio of -2.21 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.66 billion for 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 business's revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company posted ($2.39) EPS. As a group, research analysts forecast that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 last quarter. SG Americas Securities LLC increased its stake in NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after acquiring an additional 958,750 shares during the last quarter. Trexquant Investment LP bought a new position in NIO in the 4th quarter worth about $3,305,000. Hsbc Holdings PLC increased its stake in NIO by 96.6% in the 1st quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock worth $3,964,000 after acquiring an additional 510,610 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in NIO in the 4th quarter worth about $1,776,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.