NIO (NYSE:NIO) Trading Down 0.9%

Nio Inc – (NYSE:NIO)’s stock price fell 0.9% during trading on Thursday . The company traded as low as $4.56 and last traded at $4.63. 21,029,108 shares were traded during mid-day trading, a decline of 64% from the average session volume of 57,790,508 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating on the stock. 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 research report on Thursday, March 14th. Barclays decreased their price target on shares of NIO from $8.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 6th. Jefferies Financial Group decreased their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Finally, Bank of America reduced their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.83.

NIO Trading Down 3.6 %

The business has a 50 day simple moving average of $5.72 and a 200-day simple moving average of $7.28. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -2.65 and a beta of 1.94.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.51) earnings per share. On average, equities analysts predict that Nio Inc – will post -1.23 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of NIO by 7.8% during the 2nd quarter. BlackRock Inc. now owns 66,794,714 shares of the company’s stock valued at $647,241,000 after acquiring an additional 4,835,232 shares during the last quarter. Vanguard Group Inc. grew its stake in NIO by 2.2% in the third quarter. Vanguard Group Inc. now owns 51,370,117 shares of the company’s stock worth $810,108,000 after purchasing an additional 1,113,194 shares during the period. Norges Bank purchased a new stake in shares of NIO in the fourth quarter worth $155,344,000. Legal & General Group Plc boosted its position in shares of NIO by 0.8% during the fourth quarter. Legal & General Group Plc now owns 11,086,052 shares of the company’s stock valued at $108,089,000 after buying an additional 92,662 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in NIO by 20.8% in the first quarter. First Trust Advisors LP now owns 8,128,289 shares of the company’s stock valued at $171,100,000 after acquiring an additional 1,399,601 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About 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.