NIO (NYSE:NIO) Trading Down 5.7% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price traded down 5.7% during mid-day trading on Thursday . The company traded as low as $3.88 and last traded at $3.98. 89,867,073 shares were traded during mid-day trading, an increase of 62% from the average session volume of 55,327,025 shares. The stock had previously closed at $4.22.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NIO shares. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Mizuho cut their price target on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a report on Monday. Cfra Research raised shares of NIO to a “hold” rating in a report on Friday, March 21st. Finally, Citigroup dropped their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

NIO Stock Down 5.0 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market cap of $8.37 billion, a P/E ratio of -2.66 and a beta of 1.81. The business has a fifty day moving average of $4.44 and a 200 day moving average of $4.86.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.81) earnings per share. On average, equities research analysts predict that Nio Inc – will post -1.43 EPS for the current year.

Institutional Trading of NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Blue Trust Inc. increased its holdings in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. bought a new stake in NIO during the 4th quarter worth approximately $44,000. Callan Family Office LLC bought a new stake in NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new stake in NIO during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.