NIO Sees Unusually High Options Volume (NYSE:NIO)

NIO Inc. (NYSE:NIO - Get Free Report) saw some unusual options trading activity on Thursday. Traders bought 303,442 call options on the company. This is an increase of approximately 90% compared to the typical volume of 159,610 call options.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SIH Partners LLLP grew its holdings in NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after purchasing an additional 175,000 shares during the period. Arizona PSPRS Trust bought a new position in NIO during the fourth quarter valued at $1,330,000. Raymond James Financial Inc. purchased a new stake in shares of NIO during the fourth quarter worth $1,776,000. Bridgewater Associates LP lifted its position in shares of NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after acquiring an additional 263,338 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of NIO during the fourth quarter worth $3,305,000. 48.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and raised their target price for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. Mizuho lowered their price target on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Barclays lowered their price target on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. Finally, Citigroup reissued a "buy" rating on shares of NIO in a report on Monday, April 28th. One 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $4.74.

NIO Stock Up 6.3%

Shares of NYSE:NIO traded up $0.22 during mid-day trading on Thursday, reaching $3.70. 72,969,546 shares of the stock were exchanged, compared to its average volume of 52,337,160. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The stock's 50 day simple moving average is $3.70 and its 200-day simple moving average is $4.04. The company has a market cap of $7.72 billion, a P/E ratio of -2.28 and a beta of 1.55. NIO has a one year low of $3.02 and a one year high of $7.71.

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 the consensus estimate of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. NIO's revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.39) earnings per share. As a group, equities research analysts predict that NIO will post -1.43 EPS for the current year.

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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