NIO (NYSE:NIO) Shares Down 2.1%

Nio Inc – (NYSE:NIO) dropped 2.1% on Wednesday . The stock traded as low as $3.71 and last traded at $3.81. Approximately 42,222,200 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 53,061,916 shares. The stock had previously closed at $3.89.

Analyst Upgrades and Downgrades

NIO has been the subject of several analyst reports. UBS Group dropped their price objective on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. Bank of America dropped their price objective on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday, March 25th. Sanford C. Bernstein decreased their price target on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Finally, Macquarie started coverage on NIO in a research note on Monday. They issued a “neutral” rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a 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 $8.43.

NIO Price Performance

The business has a 50-day simple moving average of $5.21 and a 200 day simple moving average of $6.74. The stock has a market cap of $6.65 billion, a P/E ratio of -2.28 and a beta of 1.93. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter last year, the firm posted ($0.51) EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Nio Inc – will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. raised its stake in NIO by 127.6% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company’s stock worth $15,172,000 after buying an additional 431,851 shares during the period. US Bancorp DE raised its stake in NIO by 19.9% during the 1st quarter. US Bancorp DE now owns 18,593 shares of the company’s stock worth $392,000 after buying an additional 3,092 shares during the period. Cibc World Market Inc. increased its holdings in NIO by 23.6% during the 1st quarter. Cibc World Market Inc. now owns 38,708 shares of the company’s stock worth $815,000 after purchasing an additional 7,396 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NIO by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company’s stock valued at $57,007,000 after acquiring an additional 48,720 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of NIO by 45.6% in the first quarter. Sei Investments Co. now owns 338,913 shares of the company’s stock valued at $7,134,000 after acquiring an additional 106,140 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.