NIO (NYSE:NIO) Shares Gap Up to $4.13

Shares of Nio Inc – (NYSE:NIO) gapped up before the market opened on Friday . The stock had previously closed at $4.13, but opened at $4.43. NIO shares last traded at $4.45, with a volume of 20,848,991 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays reaffirmed an “underweight” rating and set a $4.00 price target (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research note on Wednesday, March 6th. Mizuho restated a “neutral” rating and issued a $5.50 price target on shares of NIO in a research note on Monday, March 25th. Macquarie started coverage on shares of NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, Sanford C. Bernstein dropped their price target on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.43.

NIO Stock Up 8.7 %

The business’s 50 day moving average is $4.99 and its 200 day moving average is $6.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of -2.57 and a beta of 1.93.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) EPS 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 firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same period in the prior year, the business posted ($0.51) EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that Nio Inc – will post -1.26 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bfsg LLC acquired a new stake in shares of NIO during the 4th quarter valued at $33,000. Rakuten Securities Inc. acquired a new stake in shares of NIO during the 4th quarter valued at $38,000. Newbridge Financial Services Group Inc. boosted its stake in shares of NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after buying an additional 6,875 shares during the period. Principal Securities Inc. acquired a new stake in shares of NIO during the 4th quarter valued at $42,000. Finally, Peoples Bank KS acquired a new stake in shares of NIO during the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.