NIO (NYSE:NIO) Stock Price Down 3%

Nio Inc – (NYSE:NIO) dropped 3% during mid-day trading on Friday . The company traded as low as $4.24 and last traded at $4.26. Approximately 12,969,975 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 54,483,180 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

NIO has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. Barclays reissued an “underweight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Macquarie initiated coverage on shares of NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price target for the company. Bank of America upped their price target on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, Jefferies Financial Group cut their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $7.55.

NIO Stock Performance

The firm has a market cap of $7.15 billion, a P/E ratio of -2.46 and a beta of 1.80. 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 company’s 50 day moving average is $4.86 and its 200 day moving average is $5.68.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS 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 net margin of 39.38% and a negative return on equity of 111.91%. As a group, equities analysts predict that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. increased its position in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after acquiring an additional 2,038 shares during the period. Cetera Advisors LLC increased its position in NIO by 26.2% in the 1st quarter. Cetera Advisors LLC now owns 33,671 shares of the company’s stock valued at $152,000 after acquiring an additional 6,981 shares during the period. Swedbank AB acquired a new position in NIO in the 1st quarter valued at approximately $5,343,000. Tidal Investments LLC increased its position in NIO by 33.2% in the 1st quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock valued at $1,146,000 after acquiring an additional 63,491 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of NIO by 12.4% during the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock worth $1,912,000 after buying an additional 46,987 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About 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.