NIO (NYSE:NIO) Shares Gap Down – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.22, but opened at $3.90. NIO shares last traded at $3.99, with a volume of 70,831,958 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NIO shares. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Cfra Research upgraded shares of NIO to a “hold” rating in a research report on Friday, March 21st. Mizuho decreased their price objective on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a report on Monday. Citigroup cut their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.

NIO Trading Down 5.6 %

The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of -2.65 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average is $4.44 and its 200 day moving average is $4.86.

NIO (NYSE:NIO) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.81) EPS. Equities analysts predict that Nio Inc – will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its position in shares of NIO by 71.6% in the third quarter. Advisors Asset Management Inc. now owns 82,179 shares of the company’s stock worth $549,000 after purchasing an additional 34,299 shares in the last quarter. DRW Securities LLC bought a new stake in NIO during the 3rd quarter worth about $140,000. FMR LLC boosted its stake in shares of 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 buying an additional 5,296,601 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of NIO in the 3rd quarter valued at about $141,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the third quarter valued at about $4,879,000. 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.