NIO (NYSE:NIO) Trading Down 1.1% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price traded down 1.1% during mid-day trading on Wednesday . The stock traded as low as $4.57 and last traded at $4.59. 13,906,057 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 56,607,094 shares. The stock had previously closed at $4.64.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Bank of America increased their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Down 0.4 %

The business has a 50 day moving average of $5.32 and a 200-day moving average of $4.85. The stock has a market cap of $7.89 billion, a PE ratio of -3.09 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the business posted ($0.51) EPS. The company’s revenue was up 98.9% on a year-over-year basis. Equities research analysts predict that Nio Inc – will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in shares of NIO by 12.4% in the 1st quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock valued at $1,912,000 after buying an additional 46,987 shares during the period. Cetera Advisors LLC lifted its holdings in shares of NIO by 26.2% in the 1st quarter. Cetera Advisors LLC now owns 33,671 shares of the company’s stock valued at $152,000 after buying an additional 6,981 shares during the period. CWM LLC lifted its holdings in shares of NIO by 16.0% in the 2nd quarter. CWM LLC now owns 24,399 shares of the company’s stock valued at $102,000 after buying an additional 3,371 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of NIO by 122.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,722 shares of the company’s stock valued at $136,000 after buying an additional 18,039 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of NIO by 11.2% in the 2nd quarter. 180 Wealth Advisors LLC now owns 103,306 shares of the company’s stock valued at $430,000 after buying an additional 10,413 shares during the period. 48.55% of the stock is currently 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.