NIO (NYSE:NIO) Stock Price Down 4.7%

Nio Inc – (NYSE:NIO) traded down 4.7% during mid-day trading on Thursday . The company traded as low as $4.41 and last traded at $4.42. 12,522,685 shares traded hands during trading, a decline of 77% from the average session volume of 54,627,473 shares. The stock had previously closed at $4.64.

Analyst Ratings Changes

NIO has been the topic of a number of research analyst reports. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a research note on Monday, March 25th. Macquarie started coverage on NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price for the company. Barclays reissued an “underweight” rating and set a $4.00 price target (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Bank of America lifted their target price on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Finally, Jefferies Financial Group reduced their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.55.

NIO Stock Down 5.0 %

The company’s fifty day simple moving average is $4.85 and its 200 day simple moving average is $5.73. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $7.58 billion, a P/E ratio of -2.59 and a beta of 1.80.

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

Hedge Funds Weigh In On NIO

Large investors have recently made changes to their positions in the business. Bfsg LLC purchased a new position in NIO during the fourth quarter valued at $33,000. Rakuten Securities Inc. bought a new stake in NIO during the 4th quarter valued at about $38,000. Newbridge Financial Services Group Inc. lifted its stake in shares of NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after buying an additional 6,875 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of NIO during the fourth quarter valued at approximately $42,000. Finally, BSW Wealth Partners bought a new stake in shares of NIO during the first quarter valued at approximately $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.