NIO (NYSE:NIO) Shares Gap Up to $3.70

Shares of Nio Inc – (NYSE:NIO) gapped up before the market opened on Thursday . The stock had previously closed at $3.70, but opened at $3.83. NIO shares last traded at $3.81, with a volume of 8,004,536 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America raised their target price on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Citigroup dropped their target price on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.55.

NIO Stock Performance

The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $6.95 billion, a P/E ratio of -2.39 and a beta of 1.86. The business’s 50 day simple moving average is $4.26 and its two-hundred day simple moving average is $4.77.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. Sell-side analysts anticipate that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. raised its position in NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after buying an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in NIO by 11.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after purchasing an additional 2,092 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Cantor Fitzgerald L. P. grew its position in NIO by 23.0% in the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock worth $132,000 after purchasing an additional 2,719 shares during the period. 48.55% of the stock is 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.