NIO (NYSE:NIO) Trading Up 5.6% - Here's What Happened

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.

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

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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