Short Interest in Nio Inc – (NYSE:NIO) Decreases By 15.8%

Nio Inc – (NYSE:NIO) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 180,540,000 shares, a drop of 15.8% from the February 28th total of 214,300,000 shares. Currently, 8.7% of the shares of the stock are short sold. Based on an average trading volume of 52,590,000 shares, the days-to-cover ratio is currently 3.4 days.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Mizuho reduced their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Cfra Research upgraded NIO to a “hold” rating in a research report on Friday, March 21st. Finally, Citigroup cut their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.17.

Hedge Funds Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. FMR LLC increased its position in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares in the last quarter. Bridgewater Associates LP raised its stake in shares of NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. SG Americas Securities LLC lifted its holdings in shares of NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Swedbank AB boosted its position in NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Trading Down 2.0 %

NIO traded down $0.08 during midday trading on Thursday, hitting $3.73. The company’s stock had a trading volume of 29,640,782 shares, compared to its average volume of 55,818,135. NIO has a 52-week low of $3.57 and a 52-week high of $7.71. The firm has a 50-day moving average price of $4.40 and a two-hundred day moving average price of $4.80. The firm has a market cap of $7.77 billion, a P/E ratio of -2.47 and a beta of 1.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned ($2.81) EPS. On average, research analysts anticipate that NIO will post -1.43 earnings per share for the current year.

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.