NIO (NYSE:NIO) Stock Price Down 0.5% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) were down 0.5% during trading on Wednesday . The stock traded as low as $5.47 and last traded at $5.59. Approximately 16,224,592 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 56,560,102 shares. The stock had previously closed at $5.62.

Wall Street Analyst Weigh In

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

NIO Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of -3.14 and a beta of 1.86. The company’s fifty day moving average is $5.13 and its two-hundred day moving average is $4.81.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) EPS. Equities research analysts forecast that Nio Inc – will post -1.37 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after buying an additional 4,018,659 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after purchasing an additional 439,474 shares during the last quarter. SG Americas Securities LLC increased its position in shares of NIO by 64.6% in the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the last quarter. Finally, AMF Tjanstepension AB increased its position in shares of NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after purchasing an additional 889,900 shares during the last quarter. Hedge funds and other 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.