NIO (NYSE:NIO) Stock Price Down 4.7%

Nio Inc – (NYSE:NIO)’s share price was down 4.7% during mid-day trading on Thursday . The company traded as low as $4.41 and last traded at $4.42. Approximately 12,522,685 shares traded hands during trading, a decline of 77% from the average daily volume of 54,627,473 shares. The stock had previously closed at $4.64.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group reduced their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. Mizuho reiterated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. Sanford C. Bernstein reduced their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Finally, UBS Group reduced their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.55.

NIO Stock Performance

The stock has a market cap of $7.15 billion, a P/E ratio of -2.46 and a beta of 1.80. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $4.86 and its two-hundred day simple moving average is $5.69.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, research analysts forecast that Nio Inc – will post -1.41 EPS for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in NIO. PNC Financial Services Group Inc. increased its stake in NIO by 7.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 31,177 shares of the company’s stock valued at $282,000 after buying an additional 2,248 shares during the last quarter. Mariner LLC boosted its position in NIO by 11.4% during the third quarter. Mariner LLC now owns 82,747 shares of the company’s stock valued at $748,000 after purchasing an additional 8,439 shares during the last quarter. Federated Hermes Inc. bought a new position in NIO in the third quarter valued at approximately $461,000. O Shaughnessy Asset Management LLC acquired a new position in shares of NIO during the 3rd quarter worth approximately $120,000. Finally, Insigneo Advisory Services LLC raised its stake in shares of NIO by 89.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 96,736 shares of the company’s stock worth $874,000 after purchasing an additional 45,594 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.