NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was up 5.6% during trading on Thursday . The stock traded as high as $3.61 and last traded at $3.68. Approximately 16,468,537 shares changed hands during trading, a decline of 68% from the average daily volume of 52,148,294 shares. The stock had previously closed at $3.48.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on NIO shares. Barclays reduced their price objective on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. Mizuho reduced their price objective on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. Cfra Research upgraded NIO to a "hold" rating in a research report on Friday, March 21st. Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NIO has a consensus rating of "Hold" and a consensus price target of $4.74.
Get Our Latest Stock Report on NIO
NIO Price Performance
The company has a market cap of $7.48 billion, a P/E ratio of -2.23 and a beta of 1.55. The company has a fifty day simple moving average of $3.70 and a 200-day simple moving average of $4.04. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69.
NIO (NYSE:NIO - Get Free Report) last announced its 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 net margin of 35.51% and a negative return on equity of 286.45%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. During the same period last year, the firm earned ($2.39) earnings per share. NIO's revenue for the quarter was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that NIO Inc. will post -1.43 earnings per share for the current year.
Institutional Trading of NIO
Several large investors have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NIO by 3,966.7% during 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 valued at $20,255,000 after purchasing an additional 5,185,565 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of NIO by 39.1% during the 1st quarter. Advisors Asset Management Inc. now owns 123,467 shares of the company's stock valued at $470,000 after acquiring an additional 34,678 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of NIO by 38.9% during the 1st quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company's stock valued at $191,000 after acquiring an additional 14,028 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of NIO by 49.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company's stock valued at $70,000 after acquiring an additional 6,078 shares in the last quarter. Finally, Compound Planning Inc. grew its holdings in shares of NIO by 25.5% during the 1st quarter. Compound Planning Inc. now owns 33,746 shares of the company's stock valued at $129,000 after acquiring an additional 6,865 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.
NIO Company Profile
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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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