NIO (NYSE:NIO) Trading Up 1.9% - Here's What Happened

Key Points

• NIO Inc. shares increased by 1.9% to $4.56, with approximately 15 million shares traded, marking a significant decline in daily trading volume.
• Analyst ratings for NIO show a mixed sentiment, with one sell, nine hold, two buy, and one strong buy, while the average target price stands at $4.74.
• NIO reported a quarterly loss of ($0.45) EPS, missing analysts' expectations significantly, despite a year-over-year revenue increase of 21.5% to $1.66 billion.

NIO Inc. (NYSE:NIO - Get Free Report) was up 1.9% on Wednesday . The stock traded as high as $4.62 and last traded at $4.56. Approximately 15,080,104 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 51,427,441 shares. The stock had previously closed at $4.47.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NIO. Citigroup restated a "buy" rating on shares of NIO in a report on Monday, April 28th. The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and raised their price target for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. Barclays lowered their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. Mizuho lowered their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. Finally, Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.74.

NIO Price Performance

The firm has a market capitalization of $9.62 billion, a P/E ratio of -2.85 and a beta of 1.42. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84. The business has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $4.07.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data 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). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter 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, sell-side analysts expect that NIO Inc. will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 worth $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of NIO in the 2nd quarter worth $12,315,000. SG Americas Securities LLC increased its holdings in shares of 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 purchasing an additional 958,750 shares in the last quarter. Bridgewater Associates LP increased its holdings in shares of NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of NIO by 125.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company's stock worth $3,754,000 after purchasing an additional 608,377 shares in the last quarter. 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.

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