NIO (NYSE:NIO) Stock Price Up 5.1% - What's Next?

Key Points

• NIO shares rose 5.1% to $3.5850 on Friday, with trading volume reaching about 43.4 million shares—17% above the average.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, seven a Hold and two a Sell, resulting in an overall “Hold” rating and an average price target of $5.87.
• Institutional ownership remains significant at 48.55%, with major investors including Bank of America, HSBC and Renaissance Technologies increasing their positions; however, NIO continues to report negative profitability metrics and analysts expect a full-year loss.

NIO Inc. (NYSE:NIO - Get Free Report) shares were up 5.1% during trading on Friday. The company traded as high as $3.63 and last traded at $3.5850. Approximately 43,426,164 shares were traded during trading, an increase of 17% from the average daily volume of 37,202,555 shares. The stock had previously closed at $3.41.

Analyst Ratings Changes

NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $6.10 price target on shares of NIO in a research note on Friday, September 4th. Royal Bank Of Canada downgraded NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Freedom Broker lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $4.50 in a research note on Wednesday, September 2nd. Finally, Zacks Research cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.87.

NIO Stock Up 5.1%

The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The firm has a market cap of $8.90 billion, a PE ratio of -13.28 and a beta of 0.92. The business's 50-day simple moving average is $4.04 and its 200 day simple moving average is $5.03.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. The firm had revenue of $4.73 billion during the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. As a group, equities research analysts expect that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Bank of America Corp DE grew its holdings in NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock worth $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of NIO by 651.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock valued at $8,051,000 after purchasing an additional 1,387,656 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock worth $87,146,000 after purchasing an additional 5,962,731 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of NIO in the 2nd quarter worth $19,008,000. Finally, ABC Arbitrage SA purchased a new position in NIO during the 1st quarter worth $4,043,000. 48.55% of the stock is currently owned by hedge funds and other 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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