NIO (NYSE:NIO) Shares Gap Down – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $6.22, but opened at $6.06. NIO shares last traded at $6.15, with a volume of 8,083,756 shares.

Analysts Set New Price Targets

NIO has been the subject of a number of research reports. Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average is $4.99 and its two-hundred day moving average is $4.78. The company has a market capitalization of $10.73 billion, a P/E ratio of -4.11 and a beta of 1.86.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share. As a group, analysts predict that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Trading of NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Ridgewood Investments LLC bought a new stake in NIO in the second quarter worth about $25,000. Sound Income Strategies LLC raised its position in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after acquiring an additional 10,000 shares during the period. Perigon Wealth Management LLC bought a new stake in NIO in the first quarter worth about $51,000. Baader Bank Aktiengesellschaft bought a new stake in shares of NIO in the second quarter valued at approximately $53,000. Finally, Edge Wealth Management LLC bought a new stake in shares of NIO in the first quarter valued at approximately $54,000. Institutional investors own 48.55% of the company’s stock.

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.