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

Nio Inc – (NYSE:NIO)’s share price was up 0.1% during mid-day trading on Friday . The company traded as high as $3.58 and last traded at $3.53. Approximately 23,076,451 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 56,126,153 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Mizuho decreased their target price on shares of NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, April 10th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. Finally, Citigroup dropped their target price on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.05.

NIO Price Performance

The company’s 50-day simple moving average is $4.17 and its 200-day simple moving average is $4.57. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.33 and a beta of 1.74. 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 posted its 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 return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the business posted ($2.81) EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Research analysts forecast that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in 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. Bridgewater Associates LP grew its holdings in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after purchasing an additional 263,338 shares during the last quarter. Swedbank AB increased its position in NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares in the last quarter. SIH Partners LLLP lifted its stake in NIO by 23.1% in the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company’s stock valued at $4,071,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in NIO in the fourth quarter valued at approximately $3,305,000. 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.