NIO (NYSE:NIO) Shares Gap Down to $5.94

Shares of Nio Inc – (NYSE:NIO) gapped down prior to trading on Wednesday . The stock had previously closed at $5.94, but opened at $5.70. NIO shares last traded at $5.63, with a volume of 15,399,464 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America upped their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Trading Down 4.5 %

The stock has a market cap of $9.75 billion, a PE ratio of -3.36 and a beta of 1.82. The stock has a 50-day moving average of $4.45 and a 200 day moving average of $4.68. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). The firm 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%. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period last year, the company earned ($0.51) earnings per share. As a group, sell-side analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of NIO. Oppenheimer & Co. Inc. raised its stake in shares of NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after buying an additional 2,000 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares in the last quarter. Cantor Fitzgerald L. P. increased its stake in NIO by 23.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock worth $132,000 after buying an additional 2,719 shares in the last quarter. Finally, First Affirmative Financial Network lifted its position in shares of NIO by 26.4% in the first quarter. First Affirmative Financial Network now owns 13,256 shares of the company’s stock valued at $60,000 after acquiring an additional 2,768 shares in the last quarter. Hedge funds and other 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.