NIO (NIO) Reaches New 12-Month Low at $4.11

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Nio Inc – (NYSE:NIO) reached a new 52-week low during trading on Monday . The company traded as low as $4.11 and last traded at $4.18, with a volume of 6795576 shares trading hands. The stock had previously closed at $4.42.

A number of research firms have commented on NIO. Citigroup upgraded NIO from a “neutral” rating to a “buy” rating and reduced their price target for the company from $7.20 to $6.80 in a research report on Thursday, April 4th. Deutsche Bank set a $10.00 price target on NIO and gave the company a “buy” rating in a research report on Thursday, March 7th. Zacks Investment Research upgraded NIO from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Bank of America upgraded NIO from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $6.80 to $6.20 in a research report on Thursday, April 4th. Finally, Goldman Sachs Group assumed coverage on NIO in a research report on Thursday, March 7th. They set a “buy” rating and a $10.70 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. NIO currently has a consensus rating of “Hold” and a consensus price target of $7.56.

The company has a quick ratio of 1.25, a current ratio of 1.42 and a debt-to-equity ratio of 0.17. The stock has a market cap of $4.53 billion and a P/E ratio of -0.42.

NIO (NYSE:NIO) last announced its earnings results on Tuesday, March 5th. The company reported ($0.49) EPS for the quarter. The company had revenue of $499.69 million during the quarter. On average, equities analysts forecast that Nio Inc – will post -1.23 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN bought a new stake in shares of NIO during the third quarter valued at about $219,000. Bank of New York Mellon Corp bought a new stake in shares of NIO during the third quarter valued at about $8,743,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NIO by 10.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,600 shares of the company’s stock valued at $182,000 after purchasing an additional 2,600 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of NIO during the fourth quarter valued at about $154,000. Finally, Raymond James Trust N.A. bought a new stake in shares of NIO during the fourth quarter valued at about $168,000. Institutional investors own 22.41% of the company’s stock.

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About NIO (NYSE:NIO)

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.

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