NIO (NYSE:NIO) Trading Down 3.6%

Nio Inc – (NYSE:NIO) shares fell 3.6% on Friday . The company traded as low as $4.48 and last traded at $4.50. 55,938,542 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 58,876,096 shares. The stock had previously closed at $4.67.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NIO. Mizuho restated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday. JPMorgan Chase & Co. cut their price objective on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, March 6th. Sanford C. Bernstein cut their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group cut their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Finally, Barclays cut their price target on shares of NIO from $8.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.83.

NIO Stock Down 3.6 %

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $5.68 and its 200-day moving average is $7.26. The company has a market cap of $7.74 billion, a PE ratio of -2.57 and a beta of 1.94.

NIO (NYSE:NIO) last issued its 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). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter in the prior year, the business posted ($0.51) EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts predict that Nio Inc – will post -1.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NIO. Norges Bank bought a new position in NIO in the fourth quarter worth approximately $155,344,000. Voloridge Investment Management LLC bought a new position in NIO in the fourth quarter worth approximately $73,622,000. Two Sigma Investments LP bought a new position in NIO in the first quarter worth approximately $71,533,000. Renaissance Technologies LLC raised its position in NIO by 2,377.8% in the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after acquiring an additional 5,183,600 shares during the period. Finally, Hsbc Holdings PLC raised 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 worth $64,070,000 after acquiring an additional 4,976,403 shares during the period. 48.55% of the stock is currently owned by 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.