NIO (NYSE:NIO) Stock Price Up 2.9% - Here's What Happened

Key Points

• NIO Inc. shares rose 2.9% to $4.82, despite a significant drop in trading volume by 79% from its average daily volume.
• Analysts have mixed ratings for NIO, with a consensus price target of $4.74, while a few firms have reduced their price targets, indicating cautious sentiment in the market.
• NIO reported a quarterly earnings miss with an EPS of ($0.45) against the expected consensus of ($0.22), although revenue increased by 21.5% year-over-year.

NIO Inc. (NYSE:NIO - Get Free Report) shares rose 2.9% during mid-day trading on Friday . The company traded as high as $4.82 and last traded at $4.82. Approximately 10,595,586 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 51,239,582 shares. The stock had previously closed at $4.68.

Analyst Ratings Changes

NIO has been the topic of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating on shares of NIO in a research report on Monday, April 28th. Morgan Stanley reissued a "buy" rating on shares of NIO in a research report on Monday, July 14th. 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. Barclays dropped their price target on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. Finally, Mizuho dropped their price target on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $4.74.

NIO Stock Performance

The stock has a market capitalization of $10.26 billion, a P/E ratio of -3.03 and a beta of 1.42. The stock has a 50 day moving average of $4.01 and a 200 day moving average of $4.07. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the company posted ($2.39) EPS. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. Equities analysts predict that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 worth $20,255,000 after purchasing an additional 5,185,565 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of NIO in the second quarter valued at $12,315,000. SG Americas Securities LLC lifted its holdings 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 during the period. Vontobel Holding Ltd. lifted its holdings in shares of NIO by 125.2% in the second quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company's stock valued at $3,754,000 after buying an additional 608,377 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings 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 during the period. 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.