NIO (NYSE:NIO) Stock Price Down 3.1%

Shares of Nio Inc – (NYSE:NIO) fell 3.1% on Monday . The company traded as low as $5.38 and last traded at $5.38. 10,450,318 shares were traded during mid-day trading, a decline of 80% from the average session volume of 52,141,254 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

Several research analysts recently commented on NIO shares. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Wolfe Research started coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America raised their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Price Performance

The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of -2.98 and a beta of 1.82. The company’s 50 day moving average is $4.39 and its 200 day moving average is $4.69.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate 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 return on equity of 104.61% and a negative net margin of 32.47%. The firm’s revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Research analysts anticipate that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC lifted its position in NIO by 238.6% in the fourth 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 period. Point72 Asset Management L.P. raised its position in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in NIO in the fourth quarter valued at $12,361,000. Swedbank AB purchased a new stake in shares of NIO during the 1st quarter worth $5,343,000. Finally, Norges Bank acquired a new position in shares of NIO during the 4th quarter worth $9,652,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.