NIO (NYSE:NIO) Trading Down 3.9% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price was down 3.9% during mid-day trading on Thursday . The stock traded as low as $4.98 and last traded at $4.99. Approximately 19,602,977 shares were traded during trading, a decline of 65% from the average daily volume of 56,376,738 shares. The stock had previously closed at $5.19.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NIO shares. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Citigroup reduced their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. upgraded 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 research report on Friday, September 6th. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. 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 company’s stock. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Trading Down 3.5 %

The stock has a market cap of $8.61 billion, a P/E ratio of -2.95 and a beta of 1.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $5.24 and a two-hundred day moving average price of $4.83.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the prior year, the company posted ($0.51) EPS. NIO’s quarterly revenue was up 98.9% on a year-over-year basis. On average, research analysts expect that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Point72 Asset Management L.P. increased its holdings in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. Swedbank AB acquired a new stake in NIO in the first quarter valued at approximately $5,343,000. AMF Tjanstepension AB grew its holdings in NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares during the period. SG Americas Securities LLC grew its holdings in NIO by 64.6% in the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after purchasing an additional 744,067 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.