NIO (NYSE:NIO) Reaches New 52-Week Low – What’s Next?

NIO Inc. (NYSE:NIO) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $3.06 and last traded at $3.1210, with a volume of 7,737,495 shares traded. The stock had previously closed at $3.24.

Analyst Upgrades and Downgrades

NIO has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Tuesday, October 27th. Citigroup reissued a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Freedom Broker downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Zacks Research lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. cut their price objective on NIO from $4.50 to $3.70 and set a “neutral” rating for the company in a research report on Monday, October 26th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.78.

NIO Stock Down 5.1%

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 company has a market capitalization of $7.64 billion, a price-to-earnings ratio of -11.39 and a beta of 0.89. The firm’s 50-day simple moving average is $3.48 and its two-hundred day simple moving average is $4.83.

NIO (NYSE:NIO) last released its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (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. Sell-side analysts predict that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in shares of NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after purchasing an additional 5,962,731 shares during the period. Bank of America Corp DE grew its position in shares of NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the period. Assenagon Asset Management S.A. acquired a new position in NIO in the second quarter valued at $19,008,000. Hsbc Holdings PLC increased its stake in NIO by 651.5% in the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after purchasing an additional 1,387,656 shares during the last quarter. Finally, KBC Group NV increased its stake in NIO by 39.7% in the first quarter. KBC Group NV now owns 583,722 shares of the company’s stock valued at $3,520,000 after purchasing an additional 165,741 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc. is a China-based electric vehicle company founded in 2014. The company designs, develops, and sells premium smart electric vehicles, including sedans and sport utility vehicles, primarily under the NIO brand. Alongside its vehicles, NIO offers battery-swapping and charging services, vehicle software and connectivity features, and related ownership services. Its battery-as-a-service offering allows customers to separate battery use from vehicle purchase. NIO serves customers in China and selected European markets.