NIO (NYSE:NIO) Trading Down 3%

Nio Inc – (NYSE:NIO)’s stock price was down 3% during trading on Friday . The stock traded as low as $4.24 and last traded at $4.26. Approximately 12,969,975 shares changed hands during trading, a decline of 76% from the average daily volume of 54,483,180 shares. The stock had previously closed at $4.39.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NIO shares. Bank of America raised their target price on NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. UBS Group decreased their target price on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Mizuho restated a “neutral” rating and set a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Finally, Citigroup cut their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.55.

NIO Stock Performance

The firm’s fifty day moving average price is $4.85 and its two-hundred day moving average price is $5.72. The stock has a market capitalization of $7.15 billion, a PE ratio of -2.46 and a beta of 1.80. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts forecast that Nio Inc – will post -1.41 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in NIO. Westwood Holdings Group Inc. lifted its holdings in NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares in the last quarter. Cetera Advisors LLC raised its position in shares of NIO by 26.2% during the 1st quarter. Cetera Advisors LLC now owns 33,671 shares of the company’s stock worth $152,000 after purchasing an additional 6,981 shares during the last quarter. Swedbank AB purchased a new position in NIO in the 1st quarter valued at about $5,343,000. Tidal Investments LLC boosted its holdings in NIO by 33.2% in the 1st quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock worth $1,146,000 after buying an additional 63,491 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in NIO by 12.4% during the 1st quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after buying an additional 46,987 shares in the last quarter. Institutional investors and hedge funds 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.