NIO (NYSE:NIO) Stock Price Down 3.5%

Shares of Nio Inc – (NYSE:NIO) dropped 3.5% during trading on Friday . The stock traded as low as $3.85 and last traded at $3.86. Approximately 10,423,177 shares were traded during trading, a decline of 81% from the average daily volume of 55,831,441 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

NIO has been the subject of several research analyst reports. Jefferies Financial Group reduced 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. Barclays restated an “underweight” rating and set a $4.00 target price (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. The Goldman Sachs Group initiated coverage on shares of NIO in a research report on Wednesday, January 3rd. They set a “neutral” rating on the stock. UBS Group decreased their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Finally, Mizuho restated a “neutral” rating and set a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.43.

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 50-day moving average price is $5.21 and its two-hundred day moving average price is $6.74. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of -2.21 and a beta of 1.93.

NIO (NYSE:NIO) last posted its quarterly earnings data 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). The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.51) earnings per share. On average, equities research analysts anticipate that Nio Inc – will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its stake in NIO by 4.7% in the 2nd 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. grew its stake in NIO by 4.5% in the 1st 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 grew its stake in NIO by 10.0% in the 2nd 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 grew its stake in NIO by 10.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,812 shares of the company’s stock worth $115,000 after buying an additional 1,100 shares in the last quarter. Finally, Cigna Investments Inc. New grew its stake in NIO by 5.4% in the 3rd quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock worth $249,000 after buying an additional 1,402 shares in the last quarter. 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.