NIO (NYSE:NIO) Stock Price Down 3.5%

Shares of Nio Inc – (NYSE:NIO) were down 3.5% during trading on Friday . The company traded as low as $3.85 and last traded at $3.86. Approximately 10,423,177 shares changed hands during trading, a decline of 81% from the average daily volume of 55,831,441 shares. The stock had previously closed at $4.00.

Analyst Ratings Changes

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

NIO Price Performance

The stock has a market capitalization of $6.55 billion, a PE ratio of -2.21 and a beta of 1.93. The stock’s 50-day moving average is $5.21 and its 200 day moving average is $6.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

NIO (NYSE:NIO) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. As a group, equities analysts expect that Nio Inc – will post -1.26 earnings per share for the current year.

Institutional Trading of NIO

Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors lifted its stake in shares of NIO by 4.7% in the second quarter. Captrust Financial Advisors now owns 12,195 shares of the company’s stock valued at $265,000 after purchasing an additional 546 shares during the period. Wetherby Asset Management Inc. lifted its stake in shares of NIO by 4.5% in the first quarter. Wetherby Asset Management Inc. now owns 16,714 shares of the company’s stock valued at $352,000 after purchasing an additional 717 shares during the period. Wahed Invest LLC lifted its stake in shares of NIO by 10.0% in the second quarter. Wahed Invest LLC now owns 9,339 shares of the company’s stock valued at $90,000 after purchasing an additional 848 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in NIO by 10.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,812 shares of the company’s stock valued at $115,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Cigna Investments Inc. New increased its holdings in NIO by 5.4% during the 3rd quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock valued at $249,000 after acquiring an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

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.