NIO (NYSE:NIO) Shares Climb 1.9% - Here's What Happened

Key Points

• NIO shares rose 1.9% in midday trading to $3.485, while trading volume was about 19% below its average daily level.
• Analyst sentiment remains mixed: Goldman Sachs maintained a “buy” rating with a $6.10 target, while several firms downgraded the stock. The overall consensus is “Hold,” with a $5.87 target price.
• NIO reported $4.73 billion in quarterly revenue and break-even EPS, but continues to show weak profitability, including a negative 111.37% return on equity and a projected full-year EPS loss of $0.13.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price was up 1.9% during mid-day trading on Tuesday. The company traded as high as $3.52 and last traded at $3.4850. 30,040,104 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 37,214,727 shares. The stock had previously closed at $3.42.

Analyst Upgrades and Downgrades

NIO has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $6.10 price objective on shares of NIO in a research note on Friday, September 4th. Royal Bank Of Canada downgraded shares of NIO to a "sector perform" rating in a report on Thursday, September 3rd. Zacks Research lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. Finally, Freedom Broker downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.87.

NIO Trading Up 1.9%

The firm has a market capitalization of $8.65 billion, a P/E ratio of -12.91 and a beta of 0.92. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The firm's 50-day simple moving average is $4.12 and its 200-day simple moving average is $5.08.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%.The firm had revenue of $4.73 billion during the quarter. Analysts anticipate that NIO Inc. will post -0.13 EPS for the current 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 the company. V Square Quantitative Management LLC raised its position in NIO by 17.4% in the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company's stock worth $83,000 after acquiring an additional 2,027 shares during the period. WCG Wealth Advisors LLC boosted its stake in shares of NIO by 6.2% in the fourth quarter. WCG Wealth Advisors LLC now owns 55,549 shares of the company's stock worth $283,000 after acquiring an additional 3,249 shares during the period. Engineers Gate Manager LP boosted its stake in NIO by 2.4% in the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company's stock worth $774,000 after purchasing an additional 3,537 shares during the period. Van ECK Associates Corp boosted its position in shares of NIO by 0.8% during the second quarter. Van ECK Associates Corp now owns 492,784 shares of the company's stock worth $2,493,000 after acquiring an additional 4,002 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of NIO by 120.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company's stock valued at $48,000 after purchasing an additional 4,383 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.

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