NIO (NYSE:NIO) Trading Down 3.2%

Shares of Nio Inc – (NYSE:NIO) fell 3.2% during trading on Friday . The company traded as low as $5.33 and last traded at $5.41. 29,265,382 shares were traded during trading, a decline of 48% from the average session volume of 56,692,523 shares. The stock had previously closed at $5.59.

Analyst Ratings Changes

A number of research firms have issued reports on NIO. Mizuho reaffirmed a “neutral” rating and set a $5.50 price objective on shares of NIO in a report on Monday, March 25th. Macquarie began coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective on the stock. Barclays reaffirmed an “underweight” rating and set a $4.00 price objective (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Sanford C. Bernstein cut 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. Finally, Bank of America cut their price objective on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.43.

NIO Stock Performance

The company has a 50-day moving average price of $4.92 and a two-hundred day moving average price of $6.43. The stock has a market capitalization of $9.58 billion, a P/E ratio of -3.18 and a beta of 1.92. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter in the prior year, the company earned ($0.51) earnings per share. The company’s quarterly revenue 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bfsg LLC bought a new position in NIO during the fourth quarter valued at approximately $33,000. Rakuten Securities Inc. purchased a new stake in shares of NIO during the fourth quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. boosted its stake in shares of NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after purchasing an additional 6,875 shares during the period. Principal Securities Inc. purchased a new stake in shares of NIO during the fourth quarter valued at approximately $42,000. Finally, Peoples Bank KS purchased a new stake in shares of NIO during the third quarter valued at approximately $46,000. 48.55% of the stock is currently owned by institutional investors.

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.