NIO (NYSE:NIO) Stock Price Down 2.4%

Shares of Nio Inc – (NYSE:NIOGet Free Report) traded down 2.4% during mid-day trading on Monday . The company traded as low as $4.44 and last traded at $4.51. 11,486,840 shares were traded during mid-day trading, a decline of 79% from the average session volume of 54,482,387 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Bank of America raised their target price on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Citigroup reduced their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. UBS Group dropped their price target on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Barclays restated an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.55.

Check Out Our Latest Stock Analysis on NIO

NIO Trading Up 2.7 %

The company has a 50 day moving average of $4.89 and a 200-day moving average of $5.48. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of -2.73 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.

NIO (NYSE:NIOGet Free Report) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, research analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. O Shaughnessy Asset Management LLC acquired a new stake in shares of NIO in the third quarter valued at approximately $120,000. Lido Advisors LLC grew its holdings in shares of NIO by 13.2% during the third quarter. Lido Advisors LLC now owns 28,637 shares of the company’s stock valued at $259,000 after buying an additional 3,332 shares in the last quarter. Public Sector Pension Investment Board raised its position in NIO by 0.8% during the third quarter. Public Sector Pension Investment Board now owns 480,003 shares of the company’s stock valued at $4,339,000 after buying an additional 3,700 shares during the period. Banque Pictet & Cie SA acquired a new stake in NIO during the 3rd quarter worth about $2,486,000. Finally, B. Riley Wealth Advisors Inc. grew its position in NIO by 16.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock valued at $370,000 after purchasing an additional 5,900 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

(Get Free Report)

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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