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.
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.