NIO (NYSE:NIO) Stock Price Down 1.8%

Shares of Nio Inc – (NYSE:NIO) dropped 1.8% during mid-day trading on Tuesday . The company traded as low as $4.77 and last traded at $4.82. Approximately 25,690,315 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 56,966,516 shares. The stock had previously closed at $4.91.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Mizuho restated a “neutral” rating and set a $5.50 price objective on shares of NIO in a research report on Monday. The Goldman Sachs Group started coverage on NIO in a report on Wednesday, January 3rd. They set a “neutral” rating on the stock. Jefferies Financial Group dropped their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. Sanford C. Bernstein cut their price target on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, March 7th. Finally, UBS Group reduced their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $8.83.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The company’s fifty day moving average is $5.72 and its 200 day moving average is $7.28.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.51) EPS. Equities research analysts predict that Nio Inc – will post -1.23 EPS for the current year.

Institutional Investors Weigh In On NIO

Institutional investors have recently bought and sold shares of the stock. Credit Suisse AG lifted its holdings in shares of NIO by 19.1% in the second quarter. Credit Suisse AG now owns 5,497,075 shares of the company’s stock valued at $53,267,000 after buying an additional 879,832 shares during the period. SG Americas Securities LLC boosted its position in shares of NIO by 352.5% during the 3rd quarter. SG Americas Securities LLC now owns 630,470 shares of the company’s stock valued at $5,699,000 after purchasing an additional 491,140 shares in the last quarter. Electron Capital Partners LLC acquired a new position in shares of NIO in the 3rd quarter worth approximately $37,918,000. BlackRock Inc. lifted its stake in NIO by 7.8% during the second quarter. BlackRock Inc. now owns 66,794,714 shares of the company’s stock valued at $647,241,000 after purchasing an additional 4,835,232 shares during the last quarter. Finally, Top Ace Asset Management Ltd bought a new stake in NIO during the third quarter worth approximately $1,888,000. Institutional investors and hedge funds 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.