NIO (NYSE:NIO) Stock Price Down 0.4% – What’s Next?

Nio Inc – (NYSE:NIO) shares were down 0.4% on Wednesday . The stock traded as low as $5.19 and last traded at $5.21. Approximately 11,667,720 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 56,436,598 shares. The stock had previously closed at $5.23.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average price target of $5.93.

NIO Stock Down 4.0 %

The firm’s 50 day moving average price is $5.26 and its two-hundred day moving average price is $4.83. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $8.56 billion, a P/E ratio of -2.95 and a beta of 1.86.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company’s revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) EPS. Equities research analysts forecast that Nio Inc – will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its holdings in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after buying an additional 439,474 shares during the last quarter. SG Americas Securities LLC lifted its holdings in NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its stake in NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock valued at $7,030,000 after purchasing an additional 889,900 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.