NIO (NYSE:NIO) Shares Down 8.6%

Nio Inc – (NYSE:NIO)’s stock price was down 8.6% during trading on Friday . The company traded as low as $4.41 and last traded at $4.45. Approximately 27,955,455 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 54,555,410 shares. The stock had previously closed at $4.87.

Analyst Ratings Changes

A number of research analysts recently commented on NIO shares. UBS Group lowered their price target on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. Macquarie started coverage on shares of NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective for the company. Citigroup decreased their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research note on Thursday, June 6th. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Finally, Bank of America raised their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.55.

NIO Trading Down 6.4 %

The company has a market capitalization of $7.84 billion, a PE ratio of -2.63 and a beta of 1.86. The company’s fifty day moving average is $4.91 and its 200-day moving average is $5.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, analysts anticipate that Nio Inc – will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently bought and sold shares of NIO. Bfsg LLC purchased a new position in NIO in the fourth quarter worth $33,000. Rakuten Securities Inc. acquired a new position in NIO during the fourth quarter valued at $38,000. Newbridge Financial Services Group Inc. lifted its position in NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after purchasing an additional 6,875 shares during the period. Principal Securities Inc. acquired a new position in NIO during the fourth quarter valued at $42,000. Finally, BSW Wealth Partners acquired a new position in NIO during the first quarter valued at $46,000. 48.55% of the stock is owned by hedge funds and other 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.