NIO (NYSE:NIO) Hits New 52-Week Low – Here’s Why

Shares of NIO Inc. (NYSE:NIO) reached a new 52-week low during trading on Thursday. The company traded as low as $3.15 and last traded at $3.1550, with a volume of 10,734,234 shares changing hands. The stock had previously closed at $3.30.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NIO. The Goldman Sachs Group reissued a “buy” rating and issued a $6.10 target price on shares of NIO in a research report on Friday, September 4th. Freedom Broker downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein reduced their price target on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. decreased their price objective on shares of NIO from $4.50 to $3.70 and set a “neutral” rating for the company in a research note on Monday, October 26th. Finally, Royal Bank Of Canada downgraded shares of NIO to a “sector perform” rating in a research note on Thursday, September 3rd. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.78.

NIO Stock Down 4.1%

The firm has a 50-day moving average of $3.58 and a two-hundred day moving average of $4.87. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of -11.69 and a beta of 0.89. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11.

NIO (NYSE:NIO) last announced its quarterly earnings data on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The firm had revenue of $4.73 billion during the quarter. As a group, sell-side analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC increased its stake in NIO by 17.4% in the 1st quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock valued at $83,000 after buying an additional 2,027 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of NIO by 4.4% during the 3rd quarter. 180 Wealth Advisors LLC now owns 81,171 shares of the company’s stock valued at $278,000 after buying an additional 3,387 shares during the period. Engineers Gate Manager LP boosted its stake in shares of NIO by 2.4% during the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock valued at $774,000 after buying an additional 3,537 shares during the period. Van ECK Associates Corp grew its holdings in shares of NIO by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company’s stock valued at $2,493,000 after acquiring an additional 4,002 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after acquiring an additional 4,383 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.