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

NIO logo with Auto/Tires/Trucks background

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.

Get Our Latest Stock Report on NIO

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

(Get Free Report)

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.

Further Reading

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