NIO (NYSE:NIO) Trading 8.2% Higher

Nio Inc – (NYSE:NIO) shot up 8.2% during mid-day trading on Wednesday . The company traded as high as $4.90 and last traded at $4.90. 27,025,340 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 54,407,105 shares. The stock had previously closed at $4.53.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NIO. Bank of America raised their target price on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Macquarie began coverage on shares of NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective on the stock. Citigroup reduced their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Barclays reiterated an “underweight” rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, Mizuho restated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus target price of $7.55.

NIO Stock Up 7.5 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The company has a market cap of $8.37 billion, a P/E ratio of -2.90 and a beta of 1.87. The firm’s 50-day simple moving average is $4.88 and its 200 day simple moving average is $5.62.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Electron Capital Partners LLC grew its position in shares of NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after purchasing an additional 235,521 shares during the period. Los Angeles Capital Management LLC acquired a new stake in NIO in the 1st quarter valued at $448,000. Quadrature Capital Ltd bought a new stake in NIO during the fourth quarter worth about $12,361,000. Van ECK Associates Corp boosted its position in NIO by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 536,774 shares of the company’s stock valued at $4,869,000 after purchasing an additional 47,773 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. 48.55% of the stock is currently 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.