NIO (NYSE:NIO) Shares Down 5.1%

Nio Inc – (NYSE:NIO)’s stock price fell 5.1% on Wednesday . The stock traded as low as $5.11 and last traded at $5.23. 32,584,270 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 56,786,203 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

NIO has been the subject of several analyst reports. Bank of America decreased their target price on NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. JPMorgan Chase & Co. reduced their target price on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, March 6th. Jefferies Financial Group lowered their price target on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. Barclays reiterated an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Finally, Mizuho reissued a “neutral” rating and set a $5.50 target price on shares of NIO in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.43.

NIO Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $4.91 and its 200 day moving average is $6.38. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -2.98 and a beta of 1.92.

NIO (NYSE:NIO) last announced its quarterly earnings data 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). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter in the previous year, the business earned ($0.51) EPS. NIO’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Nio Inc – will post -1.26 EPS for the current year.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. Hsbc Holdings PLC raised its position in NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC bought a new stake in shares of NIO in the 3rd quarter valued at about $37,918,000. Quadrature Capital Ltd acquired a new stake in NIO in the 4th quarter valued at about $12,361,000. Norges Bank bought a new position in NIO during the fourth quarter worth about $9,652,000. Finally, Linden Advisors LP acquired a new position in NIO during the third quarter worth approximately $8,972,000. 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.