NIO (NYSE:NIO) Stock Price Up 9.7%

Nio Inc - (NYSE:NIO - Get Free Report) rose 9.7% on Wednesday . The stock traded as high as $5.21 and last traded at $5.18. Approximately 58,720,311 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 55,371,223 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

NIO has been the subject of several recent analyst reports. Barclays reissued an "underweight" rating and issued a $4.00 price target (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price target on NIO from $5.00 to $4.80 and set an "underweight" rating for the company in a report on Wednesday, March 6th. Bank of America decreased their target price on NIO from $7.50 to $6.50 and set a "neutral" rating for the company in a report on Wednesday, March 6th. Macquarie started coverage on NIO in a report on Monday, April 15th. They set a "neutral" rating and a $5.00 target price for the company. Finally, Jefferies Financial Group decreased their target price on NIO from $8.30 to $5.90 and set a "hold" rating for the company in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.43.

NIO Price Performance

The firm has a market capitalization of $9.05 billion, a PE ratio of -3.01 and a beta of 1.93. The stock has a 50-day moving average price of $4.93 and a 200 day moving average price of $6.47. 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 issued its quarterly 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). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $18.16 billion. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Nio Inc - will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bfsg LLC acquired a new position in shares of NIO in the 4th quarter valued at $33,000. Rakuten Securities Inc. acquired a new position in shares of NIO in the 4th quarter valued at $38,000. Principal Securities Inc. acquired a new position in shares of NIO in the 4th quarter valued at $42,000. Peoples Bank KS acquired a new position in shares of NIO in the 3rd quarter valued at $46,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of NIO by 272.3% in 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 during the last quarter. Institutional investors and hedge funds 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.