NIO (NYSE:NIO) Trading Down 2.3%

Nio Inc – (NYSE:NIO) shares dropped 2.3% on Tuesday . The company traded as low as $3.71 and last traded at $3.80. Approximately 20,025,532 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 56,637,770 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NIO shares. Jefferies Financial Group reduced their target price on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Macquarie assumed coverage on NIO in a research note on Monday. They issued a “neutral” rating and a $5.00 price objective for the company. Sanford C. Bernstein cut their target price on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Mizuho reiterated a “neutral” rating and set a $5.50 price target on shares of NIO in a report on Monday, March 25th. Finally, Barclays reissued an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Performance

The firm has a market cap of $6.69 billion, a P/E ratio of -2.17 and a beta of 1.93. The stock has a fifty day simple moving average of $5.33 and a 200 day simple moving average of $6.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. NIO’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. On average, research analysts expect that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently made changes to their positions in the company. Bfsg LLC bought a new position in shares of NIO during the fourth quarter valued at approximately $33,000. Point72 Asset Management L.P. acquired a new stake in NIO during the 4th quarter worth about $33,000. Rakuten Securities Inc. acquired a new stake in NIO during the 4th quarter worth about $38,000. Principal Securities Inc. acquired a new stake in NIO during the 4th quarter worth about $42,000. Finally, Peoples Bank KS acquired a new stake in NIO during the 3rd quarter worth about $46,000. 48.55% of the stock is currently owned by hedge funds and other 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.