NIO (NYSE:NIO) Trading Down 0.7%

Nio Inc – (NYSE:NIO) traded down 0.7% on Wednesday . The stock traded as low as $5.43 and last traded at $5.44. 16,157,711 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 52,000,746 shares. The stock had previously closed at $5.48.

Analysts Set New Price Targets

Several research firms have recently commented on NIO. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Citigroup cut their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market cap of $9.71 billion, a P/E ratio of -3.22 and a beta of 1.82. The company has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $4.69.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter last year, the business posted ($0.51) EPS. NIO’s revenue was up 98.9% on a year-over-year basis. On average, sell-side analysts predict that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIO. Sanctuary Advisors LLC acquired a new stake in NIO during the second quarter valued at $228,000. Truist Financial Corp grew its stake in shares of NIO by 32.2% in the 2nd quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after buying an additional 6,150 shares in the last quarter. Creative Planning increased its holdings in NIO by 34.7% in the second quarter. Creative Planning now owns 268,318 shares of the company’s stock worth $1,116,000 after buying an additional 69,143 shares during the last quarter. SIH Partners LLLP lifted its stake in NIO by 104.0% in the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock valued at $2,760,000 after acquiring an additional 338,320 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in NIO by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after acquiring an additional 17,467 shares in the last quarter. 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.