NIO (NYSE:NIO) Shares Down 1.9% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price was down 1.9% during mid-day trading on Wednesday . The stock traded as low as $3.77 and last traded at $3.80. Approximately 12,137,712 shares were traded during trading, a decline of 78% from the average daily volume of 55,718,655 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup lowered their price target on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday, March 24th. Cfra Research upgraded shares of NIO to a “hold” rating in a research note on Friday, March 21st. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NIO currently has an average rating of “Hold” and an average price target of $5.00.

NIO Price Performance

The stock has a market cap of $7.93 billion, a price-to-earnings ratio of -2.52 and a beta of 1.81. The stock’s 50 day moving average price is $4.41 and its two-hundred day moving average price is $4.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted ($2.81) earnings per share. Equities research analysts forecast that Nio Inc – will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after buying an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new position in NIO in the fourth quarter valued at $44,000. Sava Infond d.o.o. purchased a new stake in shares of NIO during the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. purchased a new stake in shares of NIO during the 4th quarter worth about $45,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.