NIO (NYSE:NIO) Trading 8.5% Higher

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price traded up 8.5% during trading on Friday . The stock traded as high as $4.51 and last traded at $4.48. 31,893,164 shares traded hands during trading, a decline of 42% from the average session volume of 55,115,828 shares. The stock had previously closed at $4.13.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho reiterated a "neutral" rating and set a $5.50 price target on shares of NIO in a report on Monday, March 25th. The Goldman Sachs Group began coverage on shares of NIO in a report on Wednesday, January 3rd. They set a "neutral" rating on the stock. Macquarie began coverage on shares of NIO in a research report on Monday, April 15th. They issued a "neutral" rating and a $5.00 price objective for the company. Barclays reissued an "underweight" rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Finally, UBS Group lowered their price objective on shares of NIO from $8.00 to $7.20 and set a "neutral" rating for the company in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, NIO has a consensus rating of "Hold" and a consensus price target of $8.43.

NIO Price Performance

The firm's 50-day moving average price is $5.02 and its two-hundred day moving average price is $6.58. The stock has a market cap of $7.72 billion, a PE ratio of -2.57 and a beta of 1.93. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NIO. Bfsg LLC acquired a new position in NIO during the 4th quarter valued at approximately $33,000. Rakuten Securities Inc. acquired a new position in NIO during the 4th quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. increased its stake in NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company's stock valued at $42,000 after purchasing an additional 6,875 shares in the last quarter. Principal Securities Inc. acquired a new position in NIO during the 4th quarter valued at approximately $42,000. Finally, Peoples Bank KS acquired a new position in NIO during the 3rd quarter valued at approximately $46,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.