NIO (NYSE:NIO) Trading 0.1% Higher – Here’s What Happened

Nio Inc – (NYSE:NIO) shares shot up 0.1% on Thursday . The stock traded as high as $3.58 and last traded at $3.53. 5,854,450 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 55,992,017 shares. The stock had previously closed at $3.52.

Analyst Ratings Changes

A number of analysts recently weighed in on NIO shares. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Mizuho dropped their price objective on NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a report on Thursday, April 10th. Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, Citigroup dropped their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.05.

NIO Trading Up 0.1 %

The company has a fifty day simple moving average of $4.18 and a two-hundred day simple moving average of $4.61. The stock has a market capitalization of $7.36 billion, a P/E ratio of -2.33 and a beta of 1.74. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the firm posted ($2.81) EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts expect that Nio Inc – will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC raised its holdings in shares of NIO by 2.7% in the first quarter. FNY Investment Advisers LLC now owns 149,300 shares of the company’s stock valued at $568,000 after purchasing an additional 3,870 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of NIO during the 1st quarter worth about $60,000. Azzad Asset Management Inc. ADV grew its holdings in shares of NIO by 44.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 39,492 shares of the company’s stock valued at $150,000 after acquiring an additional 12,080 shares in the last quarter. SG Americas Securities LLC increased its position in shares of NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company’s stock valued at $8,038,000 after acquiring an additional 958,750 shares during the last quarter. Finally, Annex Advisory Services LLC bought a new stake in NIO during the first quarter worth about $47,000. 48.55% of the stock is currently owned by institutional investors.

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.