NIO (NYSE:NIO) Trading Up 2.9% - Here's Why

Key Points

• NIO shares rose 2.9% to about $6.08 in mid-day trading (intraday high $6.13) on roughly 32.1 million shares traded, about 26% below its average daily volume.
• Several firms (HSBC, DBS, Macquarie) recently upgraded NIO, but the MarketBeat consensus remains a "Hold" with an average price target of $6.80.
• Financially, NIO reported $0.04 EPS for the quarter on $4.95 billion revenue but remains unprofitable (net margin -17.21%, negative ROE), with a market cap near $14 billion and a debt-to-equity of 2.08; institutions and hedge funds own roughly 48.6% of the stock.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price rose 2.9% during mid-day trading on Monday . The company traded as high as $6.13 and last traded at $6.0820. Approximately 32,126,268 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 43,142,363 shares. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. HSBC upgraded shares of NIO from a "hold" rating to a "buy" rating and increased their price objective for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of NIO in a report on Friday. Dbs Bank upgraded shares of NIO from a "hold" rating to a "moderate buy" rating in a report on Monday, March 16th. Macquarie Infrastructure upgraded shares of NIO from a "neutral" rating to an "outperform" rating and set a $6.10 price objective on the stock in a report on Thursday, January 15th. Finally, Bank of America reiterated a "neutral" rating on shares of NIO in a report on Tuesday, March 10th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $6.80.

NIO Price Performance

The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.87. The company's 50-day simple moving average is $5.83 and its 200-day simple moving average is $5.60. The company has a market cap of $13.97 billion, a price-to-earnings ratio of -6.27 and a beta of 0.97.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The company had revenue of $4.95 billion during the quarter. On average, equities research analysts anticipate that NIO Inc. will post -0.28 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in shares of NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company's stock valued at $37,000 after buying an additional 2,877 shares during the last quarter. Atlantic Union Bankshares Corp increased its position in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company's stock worth $30,000 after purchasing an additional 2,950 shares during the last quarter. Allworth Financial LP lifted its position in shares of NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company's stock worth $50,000 after purchasing an additional 4,269 shares during the last quarter. Merkkuri Wealth Advisors LLC bought a new position in shares of NIO during the first quarter worth about $41,000. Finally, Arax Advisory Partners grew its stake in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock worth $40,000 after purchasing an additional 3,487 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO's vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company's product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.

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