NIO (NYSE:NIO) Shares Gap Up to $19.18

Shares of Nio Inc – (NYSE:NIOGet Rating) gapped up before the market opened on Friday . The stock had previously closed at $19.18, but opened at $20.25. NIO shares last traded at $20.28, with a volume of 744,291 shares trading hands.

A number of equities research analysts have recently issued reports on NIO shares. UBS Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and cut their price target for the company from $42.00 to $32.00 in a report on Monday, April 4th. Citigroup started coverage on shares of NIO in a research note on Wednesday, March 16th. They issued a “buy” rating on the stock. assumed coverage on shares of NIO in a research note on Thursday, March 24th. They issued a “buy” rating and a $32.40 price objective on the stock. Nomura dropped their price target on shares of NIO from $67.10 to $51.50 and set a “buy” rating on the stock in a research note on Monday, March 28th. Finally, Mizuho dropped their price target on shares of NIO from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, June 10th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIO currently has a consensus rating of “Buy” and an average target price of $46.19.

The company has a market cap of $33.40 billion, a P/E ratio of -27.35 and a beta of 2.46. The company has a current ratio of 2.02, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $17.23 and its 200-day moving average price is $22.78.

NIO (NYSE:NIOGet Rating) last issued its earnings results on Thursday, June 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.24. NIO had a negative net margin of 19.67% and a negative return on equity of 24.99%. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.86 billion. During the same quarter last year, the firm earned ($0.48) EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. Analysts predict that Nio Inc – will post -0.62 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in NIO. Bellevue Group AG bought a new position in NIO in the fourth quarter valued at approximately $25,000. Joseph P. Lucia & Associates LLC bought a new position in NIO in the first quarter valued at approximately $25,000. Endurance Wealth Management Inc. lifted its stake in NIO by 500.0% in the first quarter. Endurance Wealth Management Inc. now owns 1,200 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares in the last quarter. Liberty Wealth Management LLC lifted its stake in NIO by 123.6% in the third quarter. Liberty Wealth Management LLC now owns 825 shares of the company’s stock valued at $29,000 after buying an additional 456 shares in the last quarter. Finally, Leverty Financial Group LLC bought a new position in NIO in the fourth quarter valued at approximately $31,000. 42.98% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile (NYSE: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.

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