NIO (NYSE:NIO) Share Price Up 12.6%

Nio Inc – (NYSE:NIO – Get Your Free Report ) stock price rose 12.6% during trading on Monday. The company traded as high as $7.71 and last traded at $7.34. 92,678,961 shares were traded mid-day, up 70% from the session’s average volume of 54,414,992 shares. Shares previously closed at $6.52.

Analysts on Wall Street are forecasting an increase

A number of analysts have weighed in on the company. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the stock. Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus price target of $5.93.

Check out our latest research report on NIO

NIO stocks up 3.4%

The company’s 50-day moving average is $4.54 and its 200-day moving average is $4.68. The stock has a market cap of $11.59 billion, a PE ratio of -4.34 and a beta of 1.82. The company has a current ratio of 1.11, a quick ratio of 1.01, and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO – Get Your Free Report ) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. In the same period last year, the firm posted ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, analysts anticipate that Nio Inc – will post -1.37 EPS for the current year.

Hedge funds influence NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management LP boosted its holdings in NIO by 164.3% in the second quarter. Point72 Asset Management LP now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in NIO during the fourth quarter valued at about $12,361,000. Swedbank AB purchased a new stake in NIO in the first quarter worth approximately $5,343,000. Norges Bank purchased a new stake in NIO during the fourth quarter valued at approximately $9,652,000. Finally, AMF Tjanstepension AB grew its holdings in NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after acquiring an additional 889,900 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s shares.

NIO Company Profile

(Get a free report)

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-motors, battery packs and components; and race management, technology development, and sales and after-sales management activities. In addition, it provides power solutions for battery charging needs; and other value-added services.

Further reading

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