NIO (NYSE:NIO) Trading Down 3.1%

Nio Inc – (NYSE:NIO)’s stock price traded down 3.1% on Monday . The stock traded as low as $5.38 and last traded at $5.38. 10,450,318 shares changed hands during trading, a decline of 80% from the average session volume of 52,141,254 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NIO shares. Wolfe Research initiated coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $5.93.

NIO Stock Down 2.2 %

The business has a fifty day moving average price of $4.35 and a two-hundred day moving average price of $4.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of -3.18 and a beta of 1.82.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter last year, the business posted ($0.51) EPS. The company’s revenue was up 98.9% on a year-over-year basis. On average, equities analysts expect that Nio Inc – will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares during the period. Point72 Asset Management L.P. grew its stake in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares during the period. Quadrature Capital Ltd acquired a new stake in NIO in the 4th quarter valued at $12,361,000. Swedbank AB purchased a new stake in NIO in the 1st quarter worth $5,343,000. Finally, Norges Bank acquired a new position in NIO during the fourth quarter worth $9,652,000. 48.55% of the stock is currently 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.