NIO (NYSE:NIO) Shares Down 3.9% – Here’s What Happened

Nio Inc – (NYSE:NIO) fell 3.9% on Friday . The stock traded as low as $3.81 and last traded at $3.83. 30,211,948 shares changed hands during trading, a decline of 45% from the average session volume of 55,370,170 shares. The stock had previously closed at $3.98.

Wall Street Analyst Weigh In

NIO has been the subject of several analyst reports. Cfra Research raised NIO to a “hold” rating in a research note on Friday, March 21st. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Citigroup lowered their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Mizuho reduced their price objective on shares of NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.00.

NIO Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.83. The stock has a market cap of $7.82 billion, a PE ratio of -2.48 and a beta of 1.81.

NIO (NYSE:NIO) last posted its earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business posted ($2.81) EPS. As a group, research analysts forecast that Nio Inc – will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors have recently added to or reduced their stakes in NIO. Shufro Rose & Co. LLC purchased a new position in shares of NIO in the 4th quarter valued at approximately $65,000. Vident Advisory LLC raised its holdings in shares of NIO by 60.6% in the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after buying an additional 20,349 shares during the last quarter. Vienna Asset Management LLC acquired a new stake in shares of NIO during the fourth quarter worth $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in shares of NIO during the fourth quarter valued at $93,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in shares of NIO by 15.1% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after acquiring an additional 8,746 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.