NIO (NYSE:NIO) Shares Down 6.9%

Nio Inc – (NYSE:NIO)’s stock price was down 6.9% during mid-day trading on Thursday . The company traded as low as $6.71 and last traded at $6.71. Approximately 41,825,818 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 55,851,578 shares. The stock had previously closed at $7.21.

Wall Street Analyst Weigh In

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

NIO Stock Performance

The stock has a 50 day moving average of $4.69 and a two-hundred day moving average of $4.71. The stock has a market capitalization of $11.55 billion, a PE ratio of -3.97 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

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 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 business’s revenue was up 98.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) EPS. Research analysts expect that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares during the last quarter. Electron Capital Partners LLC increased its holdings in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after acquiring an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in NIO by 127.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock worth $1,704,000 after acquiring an additional 211,936 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after purchasing an additional 535,400 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other 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.