NIO (NYSE:NIO) Trading Down 2.6% – What’s Next?

Shares of NIO Inc. (NYSE:NIO) fell 2.6% during trading on Tuesday . The stock traded as low as $5.03 and last traded at $5.0450. 43,137,801 shares traded hands during trading, a decline of 28% from the average session volume of 59,506,789 shares. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of research analyst reports. Mizuho boosted their price objective on shares of NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Wednesday, October 8th. Citigroup dropped their price target on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Wall Street Zen upgraded NIO from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Finally, Barclays boosted their target price on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.73.

NIO Price Performance

The company’s 50-day simple moving average is $6.76 and its 200 day simple moving average is $5.39. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of -3.48 and a beta of 1.04.

NIO (NYSE:NIO) last released its quarterly earnings results on Tuesday, September 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $20.07 billion. NIO had a negative return on equity of 1,085.61% and a negative net margin of 31.17%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted ($2.21) EPS. Equities research analysts forecast that NIO Inc. will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Aspex Management HK Ltd bought a new stake in NIO during the third quarter worth approximately $266,700,000. WT Asset Management Ltd bought a new stake in shares of NIO during the 3rd quarter worth $142,120,000. Ghisallo Capital Management LLC acquired a new position in NIO in the 3rd quarter valued at $91,440,000. Voloridge Investment Management LLC bought a new position in NIO in the 3rd quarter worth $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new position in NIO during the 3rd quarter worth $79,761,000. 48.55% of the stock is currently 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.