NIO (NYSE:NIO) Shares Gap Up to $4.13

Nio Inc - (NYSE:NIO - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $4.13, but opened at $4.43. NIO shares last traded at $4.45, with a volume of 20,848,991 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NIO. The Goldman Sachs Group began coverage on shares of NIO in a research note on Wednesday, January 3rd. They set a "neutral" rating for the company. Mizuho reiterated a "neutral" rating and issued a $5.50 target price on shares of NIO in a research note on Monday, March 25th. JPMorgan Chase & Co. cut their target price on shares of NIO from $5.00 to $4.80 and set an "underweight" rating for the company in a research note on Wednesday, March 6th. UBS Group cut their target price on shares of NIO from $8.00 to $7.20 and set a "neutral" rating for the company in a research note on Thursday, March 14th. Finally, Sanford C. Bernstein cut their target price on shares of NIO from $7.50 to $5.50 and set a "market perform" rating for the company in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.43.

NIO Price Performance

The company's fifty day moving average price is $5.02 and its 200 day moving average price is $6.58. The company has a market capitalization of $7.72 billion, a P/E ratio of -2.57 and a beta of 1.93. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.39) by ($0.42). The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned ($0.51) earnings per share. As a group, sell-side analysts forecast that Nio Inc - will post -1.26 EPS for the current year.

Institutional Trading of NIO

A number of hedge funds have recently added to or reduced their stakes in NIO. Hsbc Holdings PLC boosted its position in NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company's stock valued at $64,070,000 after buying an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC acquired a new position in shares of NIO during the third quarter worth $37,918,000. Quadrature Capital Ltd acquired a new position in shares of NIO during the fourth quarter worth $12,361,000. Norges Bank acquired a new position in shares of NIO during the fourth quarter worth $9,652,000. Finally, Linden Advisors LP acquired a new position in shares of NIO during the third quarter worth $8,972,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.