NIO (NYSE:NIO) Shares Down 2.1% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price fell 2.1% during mid-day trading on Thursday . The company traded as low as $3.63 and last traded at $3.72. 15,544,127 shares changed hands during trading, a decline of 72% from the average session volume of 55,761,347 shares. The stock had previously closed at $3.80.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NIO. Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. Citigroup dropped their target price on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research report on Monday, March 24th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.17.

NIO Stock Performance

The stock has a market cap of $7.21 billion, a P/E ratio of -2.29 and a beta of 1.74. The firm has a 50 day moving average of $4.38 and a two-hundred day moving average of $4.78. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO) last issued its 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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm posted ($2.81) earnings per share. NIO’s revenue was up 15.2% on a year-over-year basis. On average, research analysts predict that Nio Inc – will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

Several institutional investors have recently bought and sold shares of NIO. Toronto Dominion Bank raised its stake in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of NIO in the 4th quarter worth about $1,360,000. AlphaStar Capital Management LLC bought a new position in NIO during the 4th quarter valued at about $537,000. FMR LLC boosted its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in NIO in the third quarter valued at about $1,327,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.