NIO Sees Unusually Large Options Volume

Nio Inc – (NYSE:NIO) saw some unusual options trading activity on Thursday. Stock traders purchased 1,250,833 call options on the company. This represents an increase of 190% compared to the typical volume of 431,321 call options.

NIO has been the subject of a number of research analyst reports. Morgan Stanley raised shares of NIO from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $12.00 to $20.50 in a research report on Wednesday, August 26th. CICC Research raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $13.50 price objective for the company in a report on Tuesday, July 21st. Credit Suisse Group raised their price objective on shares of NIO from $17.50 to $25.00 in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NIO in a research note on Tuesday, September 8th.

They issued a “buy” rating and a $24.00 price objective on the stock. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and set a $7.00 price objective on the stock. in a report on Friday, July 17th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.89.

A number of institutional investors have recently made changes to their positions in NIO. FMR LLC bought a new stake in NIO during the first quarter valued at approximately $240,000. First Trust Advisors LP boosted its holdings in NIO by 89.5% in the first quarter. First Trust Advisors LP now owns 293,968 shares of the company’s stock valued at $1,499,000 after acquiring an additional 138,827 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in NIO by 26.6% in the first quarter.

Parametric Portfolio Associates LLC now owns 299,372 shares of the company’s stock valued at $832,000 after acquiring an additional 62,945 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of NIO by 4.5% during the 1st quarter. Nuveen Asset Management LLC now owns 1,092,551 shares of the company’s stock valued at $3,037,000 after buying an additional 47,174 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of NIO by 11.6% during the 1st quarter. Geode Capital Management LLC now owns 1,764,240 shares of the company’s stock valued at $4,874,000 after buying an additional 182,787 shares in the last quarter. Institutional investors and hedge funds own 39.43% of the company’s stock.

NIO stock opened at $31.99 on Friday. The firm has a 50 day moving average of $22.13 and a 200-day moving average of $12.21. NIO has a 12 month low of $1.36 and a 12 month high of $32.20. The firm has a market capitalization of $32.82 billion, a P/E ratio of -28.06 and a beta of 2.78.

NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.73). The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the business earned ($3.11) EPS. The company’s revenue for the quarter was up 146.5% compared to the same quarter last year. Analysts anticipate that NIO will post -0.73 EPS for the current fiscal year.

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.

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