NIO (NYSE:NIO) Shares Down 1.4% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) were down 1.4% during mid-day trading on Thursday . The stock traded as low as $6.14 and last traded at $6.20. Approximately 20,720,752 shares were traded during trading, a decline of 63% from the average daily volume of 56,516,328 shares. The stock had previously closed at $6.29.

Analysts Set New Price Targets

Several analysts have weighed in on NIO shares. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America boosted their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $5.93.

NIO Trading Up 0.3 %

The business has a 50 day moving average of $4.99 and a 200 day moving average of $4.78. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of -4.11 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. During the same quarter last year, the business posted ($0.51) EPS. The company’s revenue for the quarter was up 98.9% on a year-over-year basis. As a group, research analysts predict that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its holdings in shares of NIO by 2.5% during the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after buying an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after purchasing an additional 2,588 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. Finally, First Affirmative Financial Network lifted its holdings in shares of NIO by 26.4% in the first quarter. First Affirmative Financial Network now owns 13,256 shares of the company’s stock valued at $60,000 after purchasing an additional 2,768 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.