NIO (NYSE:NIO) Trading Down 4.7% – Here’s Why

Nio Inc – (NYSE:NIO) dropped 4.7% during trading on Friday . The company traded as low as $5.02 and last traded at $5.06. Approximately 25,011,838 shares were traded during trading, a decline of 56% from the average daily volume of 56,538,484 shares. The stock had previously closed at $5.31.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NIO shares. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price for the company in a research report on Monday, October 28th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America lifted 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. Finally, Citigroup cut their target price 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.11.

NIO Stock 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 firm has a market capitalization of $8.75 billion, a PE ratio of -3.35 and a beta of 1.91. The firm’s 50-day moving average price is $5.55 and its two-hundred day moving average price is $4.92.

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

Institutional Investors Weigh In On NIO

A number of institutional investors have recently bought and sold shares of NIO. Advisors Asset Management Inc. lifted its position in shares of NIO by 71.6% in the third quarter. Advisors Asset Management Inc. now owns 82,179 shares of the company’s stock worth $549,000 after purchasing an additional 34,299 shares in the last quarter. Avior Wealth Management LLC increased its stake in NIO by 106.1% in the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock valued at $97,000 after buying an additional 7,510 shares during the period. West Family Investments Inc. purchased a new stake in NIO in the 3rd quarter worth approximately $138,000. Banque Cantonale Vaudoise boosted its stake in shares of NIO by 112.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 363,885 shares of the company’s stock valued at $2,430,000 after buying an additional 192,394 shares during the period. Finally, Axim Planning & Wealth boosted its stake in shares of NIO by 471.9% during the 3rd quarter. Axim Planning & Wealth now owns 80,383 shares of the company’s stock valued at $537,000 after buying an additional 66,328 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.