NIO (NYSE:NIO) Trading Down 1.5%

Nio Inc – (NYSE:NIO) shares were down 1.5% during mid-day trading on Tuesday . The company traded as low as $3.81 and last traded at $3.83. Approximately 11,881,926 shares changed hands during trading, a decline of 78% from the average daily volume of 52,967,813 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NIO. Citigroup decreased their price objective on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Macquarie assumed coverage on shares of NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target for the company. Bank of America increased their price objective on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.55.

NIO Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -2.26 and a beta of 1.86. The business has a 50-day moving average price of $4.51 and a 200-day moving average price of $4.99.

NIO (NYSE:NIO) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business 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%. As a group, sell-side analysts forecast that Nio Inc – will post -1.41 earnings per share for the current year.

Institutional Trading of NIO

A number of institutional investors have recently bought and sold shares of NIO. Ridgewood Investments LLC acquired a new position in NIO during the 2nd quarter valued at approximately $25,000. Bfsg LLC acquired a new position in shares of NIO in the 4th quarter valued at $33,000. Rakuten Securities Inc. purchased a new position in NIO in the 4th quarter worth $38,000. Newbridge Financial Services Group Inc. raised its stake in NIO by 272.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after acquiring an additional 6,875 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in NIO during the 4th quarter worth about $42,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

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.