NIO (NYSE:NIO) Trading Down 6.6%

Shares of Nio Inc – (NYSE:NIO) traded down 6.6% on Thursday . The stock traded as low as $5.10 and last traded at $5.23. 33,658,472 shares were traded during mid-day trading, a decline of 35% from the average session volume of 52,081,113 shares. The stock had previously closed at $5.60.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America upped their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Stock Up 5.1 %

The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $9.54 billion, a P/E ratio of -3.27 and a beta of 1.82. The business has a 50-day moving average price of $4.33 and a 200 day moving average price of $4.70.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the company earned ($0.51) earnings per share. On average, equities analysts expect that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its position in 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 during the last quarter. Westwood Holdings Group Inc. increased its stake in NIO by 13.9% in the first 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 during the period. Avantax Advisory Services Inc. increased its stake in NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock worth $181,000 after purchasing an additional 2,092 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in 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 period. Finally, Cantor Fitzgerald L. P. increased its stake in NIO by 23.0% in the fourth quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock worth $132,000 after purchasing an additional 2,719 shares during the period. 48.55% of the stock is currently owned by institutional investors.

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.