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

Nio Inc – (NYSE:NIO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $5.22, but opened at $5.09. NIO shares last traded at $5.19, with a volume of 8,048,342 shares changing hands.

Analyst Upgrades and Downgrades

NIO has been the topic of several recent analyst reports. Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.93.

NIO Stock Performance

The stock has a market capitalization of $8.97 billion, a P/E ratio of -3.09 and a beta of 1.86. The company’s fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $4.82. 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 released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The business had revenue of $17.45 billion during 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 firm’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) EPS. As a group, equities analysts forecast that Nio Inc – will post -1.37 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in NIO. Los Angeles Capital Management LLC bought a new position in shares of NIO in the first quarter worth $448,000. International Assets Investment Management LLC boosted its position in shares of NIO by 46.1% during the 1st quarter. International Assets Investment Management LLC now owns 26,820 shares of the company’s stock worth $124,000 after acquiring an additional 8,462 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of NIO during the 1st quarter worth approximately $107,000. Sound Income Strategies LLC increased its stake in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Edge Wealth Management LLC acquired a new position in NIO during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.