NIO (NYSE:NIO) Shares Gap Up to $3.80

NIO (NYSE:NIO) Shares Gap Up to $3.80

Nio Inc – (NYSE:NIO) gapped up before the market opened on Wednesday . The stock had previously closed at $3.70, but opened at $3.80. NIO shares last traded at $4.05, with a volume of 59,413,248 shares changing hands.

A number of research analysts have recently issued reports on the stock. Piper Jaffray Companies lifted their price objective on shares of NIO from $2.20 to $4.15 and gave the company a “neutral” rating in a report on Monday, December 30th. Zacks Investment Research cut shares of NIO from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Finally, Bank of America upgraded shares of NIO from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $2.10 to $3.80 in a report on Tuesday, December 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.13.

The firm has a market capitalization of $4.19 billion, a PE ratio of -2.52 and a beta of 2.90. The firm’s fifty day moving average is $4.05 and its two-hundred day moving average is $2.78.

NIO (NYSE:NIO) last released its quarterly earnings results on Monday, December 30th. The company reported ($2.38) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($1.96). NIO had a negative return on equity of 947.90% and a negative net margin of 142.51%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.65 billion. The business’s revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that Nio Inc – will post -1.54 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in NIO by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,581,453 shares of the company’s stock valued at $6,305,000 after acquiring an additional 86,714 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in NIO by 14.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 43,521 shares of the company’s stock valued at $173,000 after acquiring an additional 5,481 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in NIO in the fourth quarter valued at about $390,000. Schonfeld Strategic Advisors LLC purchased a new position in NIO in the fourth quarter valued at about $361,000. Finally, UBS Asset Management Americas Inc. boosted its stake in NIO by 18.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,489,293 shares of the company’s stock valued at $14,027,000 after acquiring an additional 531,194 shares during the last quarter. Institutional investors and hedge funds own 34.82% of the company’s stock.

NIO Company Profile (NYSE: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.

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