NIO (NYSE:NIO) Sees Strong Trading Volume

Shares of Nio Inc - (NYSE:NIO - Get Free Report) saw unusually-high trading volume on Monday . Approximately 28,558,699 shares changed hands during mid-day trading, a decline of 49% from the previous session's volume of 56,233,324 shares.The stock last traded at $5.61 and had previously closed at $5.07.

Wall Street Analysts Forecast Growth

NIO has been the topic of several analyst reports. Sanford C. Bernstein reduced their target price on NIO from $7.50 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, March 7th. Macquarie initiated coverage on NIO in a report on Monday, April 15th. They issued a "neutral" rating and a $5.00 target price on the stock. Mizuho reiterated a "neutral" rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. Barclays reiterated an "underweight" rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Finally, Bank of America dropped their price target on NIO from $7.50 to $6.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, NIO currently has an average rating of "Hold" and a consensus target price of $8.43.

NIO Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $4.89 and a two-hundred day moving average price of $6.31. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of -3.09 and a beta of 1.92.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $18.16 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. NIO's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Nio Inc - will post -1.26 EPS for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently modified their holdings of the company. Electron Capital Partners LLC purchased a new stake in NIO in the 3rd quarter valued at $37,918,000. Top Ace Asset Management Ltd purchased a new stake in NIO in the 3rd quarter valued at $1,888,000. Banque Pictet & Cie SA purchased a new stake in NIO in the 3rd quarter valued at $2,486,000. Van ECK Associates Corp raised its position in NIO by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 536,774 shares of the company's stock valued at $4,869,000 after buying an additional 47,773 shares during the last quarter. Finally, TORQ CAPITAL MANAGEMENT HK Ltd raised its position in NIO by 275.1% in the 3rd quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 284,700 shares of the company's stock valued at $2,574,000 after buying an additional 208,800 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.