NIO (NYSE:NIO) Trading Down 4.6%

Shares of Nio Inc – (NYSE:NIO) fell 4.6% during mid-day trading on Wednesday . The company traded as low as $5.14 and last traded at $5.16. 15,107,345 shares were traded during trading, a decline of 71% from the average session volume of 52,028,406 shares. The stock had previously closed at $5.41.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NIO shares. Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.93.

NIO Trading Down 5.9 %

The company has a fifty day simple moving average of $4.39 and a 200-day simple moving average of $4.69. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of -3.00 and a beta of 1.82. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s revenue was up 98.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. On average, research analysts forecast that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several institutional investors have recently made changes to their positions in NIO. Principal Securities Inc. acquired a new stake in shares of NIO during the 4th quarter valued at $42,000. Ridgewood Investments LLC acquired a new stake in NIO during the second quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its stake in NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after purchasing an additional 6,875 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in NIO in the 4th quarter worth about $93,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the last quarter. 48.55% of the stock is currently 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.