NIO (NYSE:NIO) Trading Down 5.8% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) traded down 5.8% on Tuesday . The stock traded as low as $4.32 and last traded at $4.40. 35,517,623 shares were traded during trading, a decline of 37% from the average session volume of 56,757,121 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research note on Monday. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Down 6.6 %

The firm has a market capitalization of $7.50 billion, a P/E ratio of -2.91 and a beta of 1.91. The stock has a fifty day moving average price of $5.48 and a two-hundred day moving average price of $4.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period last year, the business posted ($0.51) earnings per share. Research analysts forecast that Nio Inc – will post -1.39 EPS for the current year.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in NIO in the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in NIO during the 3rd quarter worth $32,000. Baader Bank Aktiengesellschaft bought a new position in shares of NIO in the second quarter worth $53,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the period. Finally, Caprock Group LLC acquired a new position in NIO during the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.