NIO (NYSE:NIO) Shares Down 2.3%

Nio Inc – (NYSE:NIO)’s share price traded down 2.3% during trading on Tuesday . The company traded as low as $3.71 and last traded at $3.80. 20,025,532 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 56,637,770 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America decreased their price target on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Barclays reissued an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Mizuho reissued a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday, March 25th. The Goldman Sachs Group started coverage on NIO in a report on Wednesday, January 3rd. They issued a “neutral” rating on the stock. Finally, Sanford C. Bernstein cut their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Performance

The firm has a market cap of $6.73 billion, a PE ratio of -2.24 and a beta of 1.93. The firm has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $6.76. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last released its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter last year, the business earned ($0.51) EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Research analysts forecast that Nio Inc – will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its position in NIO by 4.7% during the second quarter. Captrust Financial Advisors now owns 12,195 shares of the company’s stock worth $265,000 after buying an additional 546 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in NIO by 4.5% during the first quarter. Wetherby Asset Management Inc. now owns 16,714 shares of the company’s stock worth $352,000 after buying an additional 717 shares in the last quarter. Wahed Invest LLC lifted its position in NIO by 10.0% during the second quarter. Wahed Invest LLC now owns 9,339 shares of the company’s stock worth $90,000 after buying an additional 848 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in NIO by 10.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,812 shares of the company’s stock worth $115,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Cigna Investments Inc. New increased its stake in NIO by 5.4% during the third quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock worth $249,000 after acquiring an additional 1,402 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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.