NIO (NYSE:NIO) Stock Price Down 0.2%

Shares of Nio Inc – (NYSE:NIO) traded down 0.2% on Tuesday . The stock traded as low as $4.42 and last traded at $4.43. 13,127,877 shares traded hands during trading, a decline of 76% from the average session volume of 54,447,563 shares. The stock had previously closed at $4.44.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup reduced their price target on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research report on Thursday, June 6th. UBS Group cut their price objective on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Jefferies Financial Group cut their price objective on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Bank of America boosted their price objective on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, Sanford C. Bernstein cut their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.55.

NIO Price Performance

The stock has a 50 day simple moving average of $4.87 and a two-hundred day simple moving average of $5.64. The company has a market cap of $7.63 billion, a price-to-earnings ratio of -2.62 and a beta of 1.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. On average, equities research analysts predict that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. increased its holdings in NIO by 9.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock worth $182,000 after purchasing an additional 1,816 shares during the period. Oppenheimer & Co. Inc. increased its holdings 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 purchasing an additional 2,000 shares during the period. Fountainhead AM LLC increased its holdings in NIO by 20.0% during the 4th quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock worth $109,000 after purchasing an additional 2,012 shares during the period. Westwood Holdings Group Inc. increased its holdings in NIO by 13.9% during the 1st 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. Finally, Avantax Advisory Services Inc. increased its holdings in NIO by 11.7% during the 4th 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. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.