NIO (NYSE:NIO) Shares Down 2.2%

Shares of Nio Inc – (NYSE:NIO) were down 2.2% during mid-day trading on Thursday . The company traded as low as $4.03 and last traded at $4.06. Approximately 8,059,489 shares changed hands during trading, a decline of 85% from the average daily volume of 55,199,297 shares. The stock had previously closed at $4.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NIO shares. The Goldman Sachs Group initiated coverage on NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating for the company. UBS Group decreased their target price on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Barclays reaffirmed an “underweight” rating and set a $4.00 target price (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Jefferies Financial Group decreased their target price on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Finally, Bank of America cut their price target on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.43.

NIO Trading Up 8.7 %

The company has a 50 day moving average of $5.02 and a two-hundred day moving average of $6.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC purchased a new position in NIO during the 4th quarter worth $33,000. Rakuten Securities Inc. purchased a new stake in NIO during the 4th quarter valued at about $38,000. Principal Securities Inc. purchased a new stake in NIO during the 4th quarter valued at about $42,000. Peoples Bank KS acquired a new position in shares of NIO in the 3rd quarter valued at about $46,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of NIO by 272.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after buying an additional 6,875 shares during the period. 48.55% of the stock is currently owned by hedge funds and other 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.