Nio Inc – (NYSE:NIO) Sees Large Decrease in Short Interest

Nio Inc – (NYSE:NIO) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 180,540,000 shares, a decline of 15.8% from the February 28th total of 214,300,000 shares. Approximately 8.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 52,590,000 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho reduced their price objective on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research report on Monday, March 24th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price target on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $5.00.

NIO Stock Down 1.6 %

NYSE:NIO traded down $0.06 during trading hours on Wednesday, hitting $3.81. 44,869,994 shares of the stock traded hands, compared to its average volume of 55,916,505. NIO has a fifty-two week low of $3.57 and a fifty-two week high of $7.71. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -2.52 and a beta of 1.81. The firm has a 50 day moving average price of $4.40 and a 200 day moving average price of $4.80.

NIO (NYSE:NIO) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the firm earned ($2.81) earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Equities research analysts anticipate that NIO will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in shares of NIO during the 3rd quarter valued at about $141,000. Garden State Investment Advisory Services LLC bought a new position in shares of NIO in the 3rd quarter valued at approximately $377,000. Hilltop Holdings Inc. acquired a new stake in NIO in the 3rd quarter worth approximately $130,000. Finally, Quadrature Capital Ltd boosted its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.