NIO (NYSE:NIO) Trading Up 12.4% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) shot up 12.4% during mid-day trading on Monday . The company traded as high as $5.36 and last traded at $5.18. 61,526,512 shares were traded during mid-day trading, an increase of 8% from the average session volume of 56,796,141 shares. The stock had previously closed at $4.61.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NIO shares. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Trading Up 11.5 %

The firm’s 50 day simple moving average is $5.28 and its 200-day simple moving average is $4.84. The company has a market capitalization of $8.84 billion, a PE ratio of -3.43 and a beta of 1.77. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm’s revenue was up 98.9% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. As a group, equities research analysts anticipate that Nio Inc – will post -1.41 EPS for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new position in shares of NIO in the 2nd quarter valued at approximately $1,076,000. International Assets Investment Management LLC raised its stake in shares of NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares in the last quarter. FMR LLC lifted its position in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Signaturefd LLC grew its stake in NIO by 16.9% in the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after purchasing an additional 7,014 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO during the third quarter valued at approximately $1,327,000. 48.55% of the stock is owned by hedge funds and other 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.