NIO (NYSE:NIO) Stock Price Down 1.7% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price traded down 1.7% on Thursday . The company traded as low as $4.48 and last traded at $4.53. 16,480,717 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 56,566,891 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of research reports. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup reduced their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price on the stock in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $6.11.

NIO Trading Up 1.5 %

The company has a 50 day moving average of $5.57 and a two-hundred day moving average of $4.93. The stock has a market capitalization of $7.73 billion, a PE ratio of -2.96 and a beta of 1.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO) last released 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). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO’s revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.51) EPS. Sell-side analysts predict that Nio Inc – will post -1.37 EPS for the current year.

Institutional Trading of NIO

Several large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its position in NIO by 2.5% during the 1st 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. raised its stake in shares of NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after buying an additional 2,038 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after buying an additional 2,482 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in NIO by 22.0% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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.