NIO (NYSE:NIO) Stock Price Up 4.6% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) traded up 4.6% during mid-day trading on Tuesday . The stock traded as high as $4.00 and last traded at $3.99. 18,150,939 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 56,991,563 shares. The stock had previously closed at $3.81.

Wall Street Analyst Weigh In

NIO has been the topic of a number of research analyst reports. Mizuho cut their price target on shares of NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Citigroup decreased their target price on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Cfra Research raised NIO to a “hold” rating in a research note on Friday, March 21st. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

NIO Stock Performance

The stock has a market cap of $8.13 billion, a price-to-earnings ratio of -2.58 and a beta of 1.81. The company’s fifty day simple moving average is $4.42 and its two-hundred day simple moving average is $4.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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 the consensus estimate of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.81) EPS. On average, analysts forecast that Nio Inc – will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of the company. Shufro Rose & Co. LLC bought a new position in shares of NIO during the fourth quarter valued at about $65,000. Vident Advisory LLC lifted its position in shares of NIO by 60.6% during the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after buying an additional 20,349 shares in the last quarter. Vienna Asset Management LLC purchased a new position in shares of NIO in the 4th quarter worth approximately $100,000. Laird Norton Wetherby Trust Company LLC bought a new position in shares of NIO in the fourth quarter valued at approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in shares of NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after acquiring an additional 8,746 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other 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.