NIO (NYSE:NIO) Shares Down 1.3%

Shares of Nio Inc – (NYSE:NIO) dropped 1.3% during mid-day trading on Thursday . The company traded as low as $3.92 and last traded at $3.94. Approximately 7,332,278 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 51,310,406 shares. The stock had previously closed at $3.99.

Analyst Ratings Changes

Several research firms have recently commented on NIO. Bank of America boosted their price target on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Finally, Citigroup reduced their price target on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.55.

NIO Trading Up 2.4 %

The firm has a market capitalization of $7.02 billion, a P/E ratio of -2.42 and a beta of 1.86. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average is $4.30 and its 200-day moving average is $4.84.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in NIO by 238.6% during the 4th 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 during the last quarter. Point72 Asset Management L.P. raised its position in shares of NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the last quarter. Electron Capital Partners LLC raised its position in shares of NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after buying an additional 235,521 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after buying an additional 439,474 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

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.