NIO (NYSE:NIO) Shares Down 1.4% on Analyst Downgrade

Nio Inc – (NYSE:NIO)’s share price was down 1.4% during mid-day trading on Thursday after Mizuho lowered their price target on the stock from $4.20 to $3.50. Mizuho currently has a neutral rating on the stock. NIO traded as low as $3.27 and last traded at $3.27. Approximately 15,661,584 shares traded hands during trading, a decline of 72% from the average daily volume of 56,123,727 shares. The stock had previously closed at $3.31.

Several other research analysts also recently commented on the company. Citigroup lowered their target price on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.05.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently added to or reduced their stakes in the stock. PDS Planning Inc raised its position in NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after buying an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock valued at $59,000 after purchasing an additional 2,712 shares in the last quarter. Franklin Resources Inc. boosted its holdings in NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock worth $72,000 after purchasing an additional 2,788 shares during the last quarter. Perigon Wealth Management LLC grew its position in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock worth $94,000 after buying an additional 3,152 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Trading Down 1.1 %

The firm has a fifty day moving average price of $4.27 and a 200-day moving average price of $4.71. The company has a market capitalization of $6.84 billion, a P/E ratio of -2.17 and a beta of 1.74. 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 issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned ($2.81) EPS. On average, equities research analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current year.

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.