NIO (NYSE:NIO) Stock Falls 1.3% – Here’s What Happened

NIO Inc. (NYSE:NIO) was down 1.3% during trading on Thursday. The stock traded as low as $3.57 and last traded at $3.6240. 27,970,482 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 37,498,016 shares. The stock had previously closed at $3.67.

Wall Street Analysts Forecast Growth

Several analysts have commented on NIO shares. Zacks Research downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein decreased their price target on NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Freedom Broker downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, Citigroup reaffirmed a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus price target of $5.87.

NIO Trading Down 1.8%

The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The firm has a market cap of $8.85 billion, a P/E ratio of -13.20 and a beta of 0.92. The company’s 50 day moving average is $4.26 and its two-hundred day moving average is $5.17.

NIO (NYSE:NIO) last issued its earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%.The business had revenue of $4.73 billion during the quarter. On average, sell-side analysts predict that NIO Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new stake in NIO during the 2nd quarter valued at $34,000. Merkkuri Wealth Advisors LLC acquired a new position in NIO during the 1st quarter worth about $41,000. Global Retirement Partners LLC bought a new stake in NIO during the 2nd quarter worth about $34,000. Wellington Altus USA Inc. bought a new stake in NIO during the 2nd quarter worth about $35,000. Finally, EverSource Wealth Advisors LLC increased its position in NIO by 120.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after acquiring an additional 4,383 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO’s vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.