NIO (NYSE:NIO) Stock Price Up 2.3% – Here’s What Happened

NIO Inc. (NYSE:NIO)’s share price traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $5.08 and last traded at $5.0640. 25,975,177 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 41,054,613 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NIO. Bank of America restated a “neutral” rating and set a $6.80 target price on shares of NIO in a report on Thursday, May 21st. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target for the company in a report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. HSBC raised NIO from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Finally, Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.70.

NIO Price Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The company’s 50-day simple moving average is $5.69 and its 200-day simple moving average is $5.38. The company has a market cap of $12.57 billion, a price-to-earnings ratio of -9.21 and a beta of 0.92.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm posted ($0.41) earnings per share. The business’s quarterly revenue was up 112.2% on a year-over-year basis. On average, equities research analysts anticipate that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. DV Trading LLC boosted its position in NIO by 134.1% in the 1st quarter. DV Trading LLC now owns 16,386 shares of the company’s stock valued at $99,000 after buying an additional 9,386 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of NIO by 71.6% during the first quarter. Glenmede Trust Co. NA now owns 22,063 shares of the company’s stock worth $133,000 after acquiring an additional 9,204 shares during the last quarter. Bank of America Corp DE increased its position in shares of NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of NIO in the first quarter worth about $1,793,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of NIO by 120.7% in the first quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after acquiring an additional 4,383 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.