NIO (NYSE:NIO) Stock Price Down 0.7%

Shares of Nio Inc – (NYSE:NIO) fell 0.7% during trading on Wednesday . The stock traded as low as $5.43 and last traded at $5.44. 16,157,711 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 52,000,746 shares. The stock had previously closed at $5.48.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $5.93.

NIO Trading Down 5.7 %

The company’s 50 day moving average is $4.32 and its 200 day moving average is $4.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same period last year, the business earned ($0.51) EPS. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. Equities analysts expect that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in NIO in the fourth quarter valued at $42,000. Ridgewood Investments LLC acquired a new position in NIO in the second quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its stake in NIO by 272.3% in 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. HighPoint Advisor Group LLC acquired a new position in NIO in the fourth quarter valued at $93,000. Finally, Sound Income Strategies LLC increased its stake in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.