NIO (NYSE:NIO) Shares Up 3.6%

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price shot up 3.6% during trading on Thursday . The stock traded as high as $4.06 and last traded at $4.05. 13,540,922 shares changed hands during trading, a decline of 76% from the average session volume of 56,116,426 shares. The stock had previously closed at $3.91.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays reaffirmed an "underweight" rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their target price on NIO from $5.00 to $4.80 and set an "underweight" rating on the stock in a report on Wednesday, March 6th. UBS Group cut their price target on shares of NIO from $8.00 to $7.20 and set a "neutral" rating for the company in a report on Thursday, March 14th. Bank of America reduced their price objective on shares of NIO from $7.50 to $6.50 and set a "neutral" rating for the company in a research report on Wednesday, March 6th. Finally, Mizuho reiterated a "neutral" rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of "Hold" and a consensus target price of $8.43.

NIO Stock Performance

The firm's 50-day simple moving average is $5.21 and its two-hundred day simple moving average is $6.74. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $6.86 billion, a PE ratio of -2.28 and a beta of 1.93.

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

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Bfsg LLC acquired a new position in shares of NIO in the fourth quarter worth $33,000. Point72 Asset Management L.P. acquired a new position in NIO in the 4th quarter worth about $33,000. Rakuten Securities Inc. purchased a new stake in shares of NIO during the 4th quarter worth about $38,000. Principal Securities Inc. acquired a new stake in shares of NIO during the 4th quarter valued at about $42,000. Finally, Peoples Bank KS bought a new stake in shares of NIO in the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.