NIO (NYSE:NIO) Shares Down 1.5%

Nio Inc – (NYSE:NIO)’s share price traded down 1.5% on Tuesday . The company traded as low as $3.81 and last traded at $3.83. 11,881,926 shares were traded during mid-day trading, a decline of 78% from the average session volume of 52,967,813 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NIO shares. Macquarie initiated coverage on NIO in a research report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective for the company. Citigroup decreased their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Bank of America increased their target price on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Stock Performance

The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of -2.27 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $5.04.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares during the period. Quadrature Capital Ltd purchased a new position in NIO in the 4th quarter valued at $12,361,000. Swedbank AB purchased a new position in NIO during the 1st quarter worth $5,343,000. Norges Bank acquired a new stake in shares of NIO in the 4th quarter worth $9,652,000. Finally, AMF Tjanstepension AB boosted its holdings in shares of NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after acquiring an additional 889,900 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.