NIO (NYSE:NIO) Trading Down 4.7%

Nio Inc – (NYSE:NIO)’s stock price dropped 4.7% during trading on Tuesday . The company traded as low as $3.86 and last traded at $3.88. Approximately 17,796,352 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 51,588,484 shares. The stock had previously closed at $4.07.

Analyst Ratings Changes

Several research analysts have weighed in on NIO shares. Bank of America lifted their target price on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Citigroup lowered their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. One research 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. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average price target of $7.55.

NIO Price Performance

The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -2.33 and a beta of 1.86. The company’s 50 day moving average is $4.32 and its 200 day moving average is $4.85. 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 posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The company had revenue of $1.37 billion for 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%. Research analysts forecast that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. 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 valued at $371,000 after acquiring an additional 2,000 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after purchasing an additional 2,038 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of 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 in the last quarter. Signaturefd LLC raised its position in shares of NIO by 10.5% during the 4th quarter. Signaturefd LLC now owns 25,748 shares of the company’s stock worth $234,000 after purchasing an additional 2,456 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake 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 valued at $61,000 after buying an additional 2,651 shares in the last quarter. 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.