NIO (NYSE:NIO) Stock Price Down 1.9% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) were down 1.9% during mid-day trading on Wednesday . The stock traded as low as $4.25 and last traded at $4.31. Approximately 21,448,699 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 55,108,348 shares. The stock had previously closed at $4.39.

Analysts Set New Price Targets

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

NIO Stock Performance

The business’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $4.85. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a market cap of $7.82 billion, a P/E ratio of -2.48 and a beta of 1.81.

NIO (NYSE:NIO) last issued its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share 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 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%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted ($2.81) EPS. Sell-side analysts predict that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several institutional investors have recently made changes to their positions in the business. FMR LLC grew its holdings in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares during the last quarter. Bridgewater Associates LP grew its stake in NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after acquiring an additional 263,338 shares in the last quarter. SG Americas Securities LLC lifted its stake in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after purchasing an additional 589,082 shares in the last quarter. Finally, Swedbank AB lifted its stake in NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares in 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.