NIO (NYSE:NIO) Trading Down 2.2%

Nio Inc – (NYSE:NIO) shares dropped 2.2% during trading on Thursday . The stock traded as low as $4.03 and last traded at $4.06. Approximately 8,059,489 shares were traded during trading, a decline of 85% from the average daily volume of 55,199,297 shares. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group dropped their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. The Goldman Sachs Group assumed coverage on shares of NIO in a report on Wednesday, January 3rd. They issued a “neutral” rating for the company. UBS Group dropped their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. Sanford C. Bernstein dropped their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a report on Thursday, March 7th. Finally, Mizuho reiterated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $8.43.

NIO Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a 50 day simple moving average of $5.06 and a two-hundred day simple moving average of $6.60. The firm has a market capitalization of $7.09 billion, a P/E ratio of -2.36 and a beta of 1.93.

NIO (NYSE:NIO) last released its 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 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 the consensus estimate of $18.16 billion. During the same quarter in the previous year, the firm earned ($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 forecast that Nio Inc – will post -1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC grew its holdings in shares of NIO by 91.2% during the third quarter. AE Wealth Management LLC now owns 69,312 shares of the company’s stock worth $627,000 after purchasing an additional 33,057 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of NIO by 130.8% during the third quarter. DnB Asset Management AS now owns 153,192 shares of the company’s stock worth $1,385,000 after purchasing an additional 86,814 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of NIO during the third quarter worth about $102,000. Meridian Wealth Management LLC grew its holdings in shares of NIO by 503.8% during the third quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock worth $812,000 after purchasing an additional 74,968 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of NIO during the third quarter worth about $157,000. Hedge funds and other institutional investors 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.