NIO (NYSE:NIO) Shares Down 4.2% – Here’s Why

Nio Inc – (NYSE:NIO) was down 4.2% during mid-day trading on Wednesday . The stock traded as low as $4.86 and last traded at $5.06. Approximately 42,414,613 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 56,504,496 shares. The stock had previously closed at $5.28.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NIO. Bank of America increased their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price target for the company in a research report on Monday, October 28th. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup decreased their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $6.11.

NIO Price Performance

The business’s 50 day simple moving average is $5.48 and its 200-day simple moving average is $4.90. 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 issued its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates 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%. The business’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Equities analysts forecast that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Trading of NIO

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after purchasing an additional 439,474 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after acquiring an additional 744,067 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after acquiring an additional 2,000 shares during the last quarter. SIH Partners LLLP raised its stake in shares of NIO by 207.2% in the 1st quarter. SIH Partners LLLP now owns 325,220 shares of the company’s stock valued at $1,463,000 after acquiring an additional 219,350 shares in the last quarter. Finally, Redwood Wealth Management Group LLC lifted its holdings in NIO by 6.9% in the 1st quarter. Redwood Wealth Management Group LLC now owns 53,632 shares of the company’s stock worth $241,000 after purchasing an additional 3,450 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

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.