NIO (NYSE:NIO) Trading 4.8% Higher – Here’s What Happened

NIO Inc. (NYSE:NIO) shares rose 4.8% during mid-day trading on Monday . The stock traded as high as $5.10 and last traded at $5.02. 27,032,975 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 40,795,070 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

NIO has been the subject of several recent research reports. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and increased their target price for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. Bank of America reissued a “neutral” rating and set a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. Finally, Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a report on Wednesday, March 11th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NIO currently has an average rating of “Hold” and a consensus target price of $6.70.

NIO Trading Up 0.6%

The company’s 50-day moving average is $5.50 and its 200 day moving average is $5.38. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The firm has a market cap of $12.19 billion, a PE ratio of -8.93 and a beta of 0.90.

NIO (NYSE:NIO) last announced its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. As a group, sell-side analysts predict that NIO Inc. will post -0.13 EPS for the current year.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after purchasing an additional 5,185,565 shares in the last quarter. Franklin Resources Inc. raised its holdings in NIO by 50.9% during the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after buying an additional 5,974 shares in the last quarter. Invesco Ltd. raised its holdings in NIO by 22.7% during the second quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock valued at $9,392,000 after buying an additional 506,618 shares in the last quarter. First Trust Advisors LP lifted its position in shares of NIO by 67.4% in the second quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock worth $251,000 after buying an additional 29,501 shares during the last quarter. Finally, AXA S.A. acquired a new stake in shares of NIO in the second quarter worth about $64,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.