NIO (NYSE:NIO) Sets New 12-Month Low at $4.78

Nio Inc – (NYSE:NIO) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.78 and last traded at $4.81, with a volume of 11946631 shares changing hands. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NIO shares. Barclays decreased their price objective on shares of NIO from $8.00 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, March 6th. Jefferies Financial Group decreased their target price on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. UBS Group dropped their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Sanford C. Bernstein lowered their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.83.

NIO Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The company has a 50 day simple moving average of $5.72 and a two-hundred day simple moving average of $7.28.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that Nio Inc – will post -1.23 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. Bfsg LLC purchased a new position in NIO during the fourth quarter worth approximately $33,000. Point72 Asset Management L.P. acquired a new stake in NIO in the 4th quarter valued at $33,000. Rakuten Securities Inc. purchased a new stake in NIO in the 4th quarter worth $38,000. Principal Securities Inc. purchased a new position in NIO during the fourth quarter valued at $42,000. Finally, Peoples Bank KS acquired a new stake in shares of NIO in the third quarter valued at about $46,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.