NIO (NYSE:NIO) Trading Down 6.5%

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Nio Inc – (NYSE:NIO)’s share price was down 6.5% during mid-day trading on Tuesday . The company traded as low as $1.52 and last traded at $1.58, approximately 38,958,301 shares were traded during mid-day trading. An increase of 35% from the average daily volume of 28,903,764 shares. The stock had previously closed at $1.69.

A number of research analysts have recently issued reports on NIO shares. China Renaissance Securities started coverage on shares of NIO in a research report on Thursday, September 26th. They issued a “hold” rating and a $2.00 price objective on the stock. Bank of America set a $2.50 price objective on shares of NIO and gave the company a “sell” rating in a report on Tuesday, September 24th. Wolfe Research downgraded shares of NIO from an “outperform” rating to a “peer perform” rating and set a $1.90 price objective on the stock. in a report on Thursday, September 26th. Morgan Stanley cut shares of NIO from an “overweight” rating to an “equal” rating and decreased their target price for the company from $3.50 to $2.40 in a research note on Thursday, September 26th. Finally, Goldman Sachs Group cut shares of NIO from a “buy” rating to a “neutral” rating and decreased their target price for the company from $9.76 to $1.47 in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. NIO presently has an average rating of “Hold” and a consensus target price of $4.83.

The company has a debt-to-equity ratio of 3.73, a current ratio of 0.97 and a quick ratio of 0.80. The firm has a market capitalization of $1.56 billion and a PE ratio of -0.15. The business’s 50-day moving average price is $2.21 and its 200-day moving average price is $3.28.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported ($3.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($2.65). NIO had a negative net margin of 152.51% and a negative return on equity of 107.06%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business earned ($57.82) earnings per share. The business’s quarterly revenue was up 3180.2% on a year-over-year basis. Equities analysts forecast that Nio Inc – will post -1.61 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in NIO. Sigma Planning Corp bought a new stake in shares of NIO in the second quarter valued at about $27,000. World Asset Management Inc bought a new stake in NIO during the second quarter worth about $28,000. Aries Wealth Management raised its holdings in NIO by 100.0% during the third quarter. Aries Wealth Management now owns 20,000 shares of the company’s stock worth $31,000 after acquiring an additional 10,000 shares in the last quarter. United Capital Financial Advisers LLC increased its position in NIO by 32.5% during the second quarter. United Capital Financial Advisers LLC now owns 13,922 shares of the company’s stock worth $36,000 after buying an additional 3,416 shares during the last quarter. Finally, NEXT Financial Group Inc increased its position in NIO by 50.0% during the second quarter. NEXT Financial Group Inc now owns 15,000 shares of the company’s stock worth $38,000 after buying an additional 5,000 shares during the last quarter. 36.96% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile (NYSE: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.

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