NIO (NYSE:NIO) Trading 6% Higher

Nio Inc – (NYSE:NIO) traded up 6% on Friday . The stock traded as high as $10.91 and last traded at $10.89. 14,433,810 shares were traded during mid-day trading, a decline of 73% from the average session volume of 52,979,543 shares. The stock had previously closed at $10.27.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NIO. Citigroup raised their target price on NIO from $13.90 to $19.20 in a research note on Friday, August 4th. Sanford C. Bernstein reduced their target price on NIO from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on NIO from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Mizuho cut their price objective on NIO from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Nomura lowered NIO from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.80 to $7.50 in a report on Monday, June 12th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.76.

NIO Trading Up 7.1 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.28. The company has a 50 day moving average of $11.53 and a two-hundred day moving average of $9.71. The stock has a market cap of $18.91 billion, a PE ratio of -7.14 and a beta of 2.03.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, August 29th. The company reported ($3.28) earnings per share for the quarter, missing the consensus estimate of ($2.96) by ($0.32). NIO had a negative return on equity of 66.25% and a negative net margin of 35.03%. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $9.16 billion. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. Sell-side analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NIO. E Fund Management Hong Kong Co. Ltd. increased its position in shares of NIO by 127.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company’s stock worth $15,172,000 after acquiring an additional 431,851 shares during the period. US Bancorp DE boosted its stake in shares of NIO by 19.9% during the first quarter. US Bancorp DE now owns 18,593 shares of the company’s stock worth $392,000 after buying an additional 3,092 shares during the period. Cibc World Market Inc. boosted its stake in shares of NIO by 23.6% during the first quarter. Cibc World Market Inc. now owns 38,708 shares of the company’s stock worth $815,000 after buying an additional 7,396 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NIO by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company’s stock worth $57,007,000 after buying an additional 48,720 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of NIO by 45.6% during the first quarter. Sei Investments Co. now owns 338,913 shares of the company’s stock worth $7,134,000 after buying an additional 106,140 shares during the period. 42.32% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

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.