NIO (NYSE:NIO) Trading Down 3.2%

Shares of Nio Inc – (NYSE:NIO) fell 3.2% during mid-day trading on Friday . The company traded as low as $5.33 and last traded at $5.41. 29,265,382 shares were traded during trading, a decline of 48% from the average session volume of 56,692,523 shares. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of research reports. UBS Group cut their price objective on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Macquarie initiated coverage on shares of NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target on the stock. Jefferies Financial Group decreased their price objective on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a research note on Monday, March 25th. Finally, Sanford C. Bernstein reduced their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.43.

NIO Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $4.92 and its 200-day moving average is $6.42. The stock has a market cap of $9.58 billion, a PE ratio of -3.18 and a beta of 1.92.

NIO (NYSE:NIO) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same quarter last year, the firm posted ($0.51) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Nio Inc – will post -1.26 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds have recently made changes to their positions in NIO. Hsbc Holdings PLC boosted its stake in NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after acquiring an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC bought a new position in shares of NIO during the third quarter worth about $37,918,000. Quadrature Capital Ltd acquired a new position in NIO in the fourth quarter worth about $12,361,000. Norges Bank bought a new stake in NIO in the fourth quarter valued at about $9,652,000. Finally, Linden Advisors LP acquired a new stake in NIO during the third quarter valued at approximately $8,972,000. Institutional investors and hedge funds 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.