Nio Inc – (NYSE:NIO) Short Interest Down 15.8% in March

Nio Inc – (NYSE:NIO) was the target of a large drop in short interest in the month of 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 company’s stock are sold short. Based on an average daily trading volume, of 52,590,000 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted 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 acquiring an additional 5,296,601 shares during the period. Quadrature Capital Ltd lifted its holdings in 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 purchasing an additional 538,907 shares during the period. Bridgewater Associates LP grew its position in 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 buying an additional 263,338 shares in the last quarter. SG Americas Securities LLC increased its stake in 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 buying an additional 589,082 shares during the period. Finally, Swedbank AB raised its position in shares of 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 buying an additional 9,000 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on NIO. Cfra Research raised shares of NIO to a “hold” rating in a research report on Friday, March 21st. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho cut their price target on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Citigroup lowered their price objective on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $5.00.

NIO Stock Performance

NYSE NIO traded down $0.06 during trading hours on Wednesday, reaching $3.81. The company’s stock had a trading volume of 44,869,994 shares, compared to its average volume of 55,916,505. The stock has a market cap of $7.95 billion, a PE ratio of -2.52 and a beta of 1.81. The business has a 50-day simple moving average of $4.40 and a 200 day simple moving average of $4.80. NIO has a 52 week low of $3.57 and a 52 week high of $7.71. 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 issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.81) earnings per share. Equities research analysts predict that NIO will post -1.43 earnings per share for the current fiscal year.

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.