NIO (NYSE:NIO) Trading Down 3.4% – Here’s Why

NIO Inc. (NYSE:NIO) was down 3.4% on Thursday . The company traded as low as $4.73 and last traded at $4.7350. Approximately 34,063,353 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 41,467,359 shares. The stock had previously closed at $4.90.

Analyst Ratings Changes

A number of equities analysts have issued reports on NIO shares. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a research report on Wednesday, March 11th. HSBC upgraded NIO from a “hold” rating to a “buy” rating and boosted their price objective for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Finally, Bank of America reissued a “neutral” rating and issued a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.70.

NIO Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $11.76 billion, a PE ratio of -8.61 and a beta of 0.92. The company has a 50-day moving average of $5.80 and a 200 day moving average of $5.39.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, May 22nd. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.08. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.69 billion. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The firm’s revenue was up 112.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.41) EPS. Sell-side analysts predict that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently modified their holdings of NIO. Atlantic Union Bankshares Corp lifted its stake in shares of NIO by 98.3% in the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after buying an additional 2,950 shares in the last quarter. Arax Advisory Partners grew its stake in NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after acquiring an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in NIO in the 4th quarter valued at about $41,000. Merkkuri Wealth Advisors LLC acquired a new stake in NIO in the 1st quarter valued at about $41,000. Finally, MV Capital Management Inc. purchased a new position in NIO in the 4th quarter worth approximately $42,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.