Nio Inc – (NYSE:NIO – Get Free Report)’s share price was up 0.6% during mid-day trading on Monday . The stock traded as high as $4.92 and last traded at $4.83. Approximately 32,325,200 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 57,461,961 shares. The stock had previously closed at $4.80.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on NIO shares. Barclays reissued an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. UBS Group reduced their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. Bank of America reduced their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, Macquarie began coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of “Hold” and an average target price of $8.48.
NIO Trading Up 0.6 %
The stock’s 50 day moving average is $4.77 and its two-hundred day moving average is $6.13. The company has a market capitalization of $8.30 billion, a PE ratio of -2.76 and a beta of 1.92. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same period last year, the company earned ($0.51) earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Nio Inc – will post -1.26 EPS for the current fiscal year.
Institutional Trading of NIO
A number of hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC bought a new position in NIO in the fourth quarter worth about $33,000. Rakuten Securities Inc. bought a new position in NIO in the fourth quarter worth about $38,000. Newbridge Financial Services Group Inc. raised its holdings in NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after purchasing an additional 6,875 shares in the last quarter. Principal Securities Inc. bought a new position in NIO in the fourth quarter worth about $42,000. Finally, BSW Wealth Partners bought a new position in NIO in the first quarter worth about $46,000. 48.55% of the stock is owned by hedge funds and other institutional investors.
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.