NIO (NYSE:NIO) Stock Price Down 3.9% – Here’s Why

Nio Inc – (NYSE:NIO) fell 3.9% on Friday . The stock traded as low as $3.81 and last traded at $3.83. 30,211,948 shares traded hands during trading, a decline of 45% from the average session volume of 55,370,170 shares. The stock had previously closed at $3.98.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NIO shares. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Cfra Research raised shares of NIO to a “hold” rating in a research report on Friday, March 21st. Finally, Mizuho decreased their price objective on shares of NIO from $5.00 to $4.20 and set a “neutral” 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

NIO Trading Down 5.2 %

The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of -2.50 and a beta of 1.81. The business’s 50 day moving average price is $4.44 and its 200-day moving average price is $4.85. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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

Hedge Funds Weigh In On NIO

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of NIO by 131.8% in the fourth 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. Callan Family Office LLC acquired a new position in NIO in the fourth quarter valued at $44,000. Sava Infond d.o.o. acquired a new position in NIO in the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO during the fourth quarter worth about $45,000. 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.