NIO (NYSE:NIO) Trading Down 5.1%

Nio Inc – (NYSE:NIO)’s share price dropped 5.1% during mid-day trading on Wednesday . The company traded as low as $5.11 and last traded at $5.23. Approximately 32,584,270 shares changed hands during trading, a decline of 43% from the average daily volume of 56,786,203 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

A number of research firms have recently weighed in on NIO. Jefferies Financial Group cut their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. Barclays reissued an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Bank of America lowered their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. UBS Group cut their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Finally, Macquarie began coverage on NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $8.43.

NIO Stock Down 5.4 %

The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $4.91 and a 200-day moving average of $6.38. The stock has a market cap of $8.96 billion, a PE ratio of -2.98 and a beta of 1.92.

NIO (NYSE:NIO) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the previous year, the business posted ($0.51) earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that Nio Inc – will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its position in NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in shares of NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares during the period. Royal London Asset Management Ltd. increased its position in NIO by 11.9% during the third quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock worth $20,853,000 after purchasing an additional 245,800 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the period. 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.