NIO (NYSE:NIO) Trading Down 2.9% – Here’s Why

Nio Inc – (NYSE:NIO) traded down 2.9% during mid-day trading on Tuesday . The stock traded as low as $5.55 and last traded at $5.62. 28,518,838 shares were traded during trading, a decline of 50% from the average session volume of 56,566,477 shares. The stock had previously closed at $5.79.

Wall Street Analyst Weigh In

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

NIO Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of -3.33 and a beta of 1.86. The business’s fifty day simple moving average is $5.03 and its 200 day simple moving average is $4.79.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the company earned ($0.51) earnings per share. On average, research analysts forecast that Nio Inc – will post -1.37 EPS for the current year.

Institutional Trading of NIO

Hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new stake in NIO during the 2nd quarter worth approximately $25,000. Sound Income Strategies LLC increased its stake in shares of NIO by 3,333.3% in the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after acquiring an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of NIO in the 1st quarter worth about $51,000. Baader Bank Aktiengesellschaft bought a new position in shares of NIO in the 2nd quarter worth about $53,000. Finally, Edge Wealth Management LLC bought a new position in shares of NIO in the 1st quarter worth about $54,000. Institutional investors own 48.55% of the company’s stock.

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.