NIO (NYSE:NIO) Stock Price Down 4.2%

Shares of Nio Inc – (NYSE:NIO) were down 4.2% during mid-day trading on Wednesday . The company traded as low as $4.45 and last traded at $4.58. Approximately 43,525,248 shares changed hands during trading, a decline of 25% from the average daily volume of 57,685,125 shares. The stock had previously closed at $4.78.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research note on Wednesday, March 6th. UBS Group dropped their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Sanford C. Bernstein lowered their target price on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Mizuho restated a “neutral” rating and issued a $5.50 target price on shares of NIO in a research note on Monday. Finally, Barclays decreased their price target on NIO from $8.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus price target of $8.83.

NIO Stock 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 firm has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $7.26. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of -2.57 and a beta of 1.94.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) earnings per share. As a group, sell-side analysts expect that Nio Inc – will post -1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NIO. Norges Bank bought a new position in NIO in the 4th quarter valued at $155,344,000. Voloridge Investment Management LLC bought a new position in shares of NIO in the fourth quarter valued at approximately $73,622,000. Two Sigma Investments LP bought a new position in shares of NIO in the first quarter valued at approximately $71,533,000. Renaissance Technologies LLC lifted its holdings in shares of NIO by 2,377.8% in the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock valued at $113,704,000 after purchasing an additional 5,183,600 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares in the last quarter. 48.55% of the stock is currently owned by 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.