NIO (NYSE:NIO) Stock Price Down 4.5% – What’s Next?

Nio Inc – (NYSE:NIO) shares traded down 4.5% on Wednesday . The stock traded as low as $5.31 and last traded at $5.35. 23,957,674 shares traded hands during trading, a decline of 58% from the average session volume of 56,712,418 shares. The stock had previously closed at $5.60.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Bank of America increased their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.11.

NIO Trading Up 0.4 %

The firm’s fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $4.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the prior year, the firm posted ($0.51) EPS. NIO’s quarterly revenue was up 98.9% compared to the same quarter last year. On average, equities research analysts predict that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its holdings in shares of NIO by 2.5% in the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after buying an additional 2,000 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of NIO by 11.5% during the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after purchasing an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.