NIO (NYSE:NIO) Stock Price Down 1.8%

Nio Inc – (NYSE:NIO) shares dropped 1.8% during trading on Tuesday . The stock traded as low as $4.33 and last traded at $4.36. Approximately 6,062,328 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 54,844,234 shares. The stock had previously closed at $4.44.

Wall Street Analysts Forecast Growth

NIO has been the topic of several recent analyst reports. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. UBS Group reduced their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Macquarie initiated coverage on NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price on the stock. Finally, Citigroup reduced their target price on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.55.

NIO Stock Up 6.2 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The firm’s 50-day moving average is $4.85 and its two-hundred day moving average is $5.73. The stock has a market cap of $7.98 billion, a P/E ratio of -2.75 and a beta of 1.80.

NIO (NYSE:NIO) last posted 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. On average, equities research analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors and hedge funds have recently made changes to their positions in the business. Bfsg LLC bought a new stake in shares of NIO during the 4th quarter valued at $33,000. Rakuten Securities Inc. bought a new stake in shares of NIO during the 4th quarter valued at $38,000. Principal Securities Inc. bought a new stake in shares of NIO during the 4th quarter valued at $42,000. Newbridge Financial Services Group Inc. raised its position in shares of NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after acquiring an additional 6,875 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of NIO during the 4th quarter valued at $92,000. Institutional investors 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.