NIO (NYSE:NIO) Shares Down 0.7%

Shares of Nio Inc – (NYSE:NIO) dropped 0.7% on Friday . The stock traded as low as $4.24 and last traded at $4.30. Approximately 6,451,114 shares traded hands during trading, a decline of 88% from the average daily volume of 55,342,477 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

NIO has been the topic of several recent research reports. Sanford C. Bernstein lowered their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Barclays reiterated an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Citigroup lowered their price objective on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Jefferies Financial Group lowered their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. Finally, Mizuho reiterated a “neutral” rating and set a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, NIO presently has an average rating of “Hold” and an average price target of $7.55.

NIO Stock Down 0.7 %

The firm has a 50 day moving average of $4.81 and a two-hundred day moving average of $5.79. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of -2.54 and a beta of 1.80. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, sell-side analysts anticipate that Nio Inc – will post -1.39 EPS for the current fiscal year.

Institutional Trading of NIO

Large investors have recently bought and sold shares of the business. Electron Capital Partners LLC acquired a new stake in shares of NIO during the third quarter valued at about $37,918,000. Quadrature Capital Ltd acquired a new stake in shares of NIO during the fourth quarter valued at about $12,361,000. Van ECK Associates Corp boosted its stake in shares of NIO by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 536,774 shares of the company’s stock valued at $4,869,000 after purchasing an additional 47,773 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO during the fourth quarter valued at about $2,040,000. 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.