NIO (NYSE:NIO) Stock Price Down 5.2% – What’s Next?

NIO Inc. (NYSE:NIO)’s stock price fell 5.2% on Tuesday. The stock traded as low as $3.38 and last traded at $3.4050. Approximately 58,628,658 shares traded hands during trading, an increase of 56% from the average session volume of 37,477,387 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Sanford C. Bernstein decreased their price target on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. Citigroup reiterated a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.87.

NIO Trading Down 0.4%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The company’s fifty day simple moving average is $4.19 and its 200-day simple moving average is $5.13. The company has a market capitalization of $8.48 billion, a P/E ratio of -12.65 and a beta of 0.92.

NIO (NYSE:NIO) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. The business had revenue of $4.73 billion during the quarter. Research analysts predict that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after acquiring an additional 5,962,731 shares during the period. Bank of America Corp DE boosted its position in NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares in the last quarter. SG Americas Securities LLC grew its stake in NIO by 67.2% in the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock valued at $30,314,000 after purchasing an additional 2,020,754 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in NIO in the second quarter valued at about $19,008,000. Finally, Hsbc Holdings PLC raised its holdings in NIO by 651.5% in the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after purchasing an additional 1,387,656 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.