NIO (NYSE:NIO) Trading Down 2.1% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price fell 2.1% during mid-day trading on Thursday . The company traded as low as $3.63 and last traded at $3.72. 15,544,127 shares were traded during mid-day trading, a decline of 72% from the average session volume of 55,761,347 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

NIO has been the subject of several recent research reports. Mizuho cut their target price on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Citigroup reduced their target price on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Cfra Research upgraded shares of NIO to a “hold” rating in a research report on Friday, March 21st. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.17.

NIO Stock Down 1.4 %

The firm’s fifty day simple moving average is $4.40 and its two-hundred day simple moving average is $4.80. 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 company has a market capitalization of $7.82 billion, a price-to-earnings ratio of -2.48 and a beta of 1.81.

NIO (NYSE:NIO) last issued 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). The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned ($2.81) EPS. Sell-side analysts anticipate that Nio Inc – will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after buying an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp increased its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new stake in NIO during the fourth quarter worth about $44,000. Sava Infond d.o.o. acquired a new position in NIO during the fourth quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. purchased a new stake in shares of NIO during the 4th quarter valued at about $45,000. 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.