NIO (NYSE:NIO) Shares Down 2.1%

Shares of Nio Inc – (NYSE:NIO) were down 2.1% during mid-day trading on Wednesday . The stock traded as low as $3.71 and last traded at $3.81. Approximately 42,222,200 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 53,061,916 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NIO. Sanford C. Bernstein dropped their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. Barclays reaffirmed an “underweight” rating and set a $4.00 target price (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. The Goldman Sachs Group assumed coverage on shares of NIO in a research note on Wednesday, January 3rd. They issued a “neutral” rating for the company. UBS Group cut their price target on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.43.

NIO Stock Performance

The stock has a market capitalization of $6.55 billion, a P/E ratio of -2.18 and a beta of 1.93. The business’s fifty day moving average price is $5.29 and its two-hundred day moving average price is $6.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

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

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently bought and sold shares of NIO. Norges Bank acquired a new stake in NIO in the 4th quarter valued at $155,344,000. Voloridge Investment Management LLC purchased a new position in shares of NIO during the 4th quarter worth $73,622,000. Two Sigma Investments LP acquired a new stake in shares of NIO during the 1st quarter worth about $71,533,000. Renaissance Technologies LLC boosted its position in shares of NIO by 2,377.8% during the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after buying an additional 5,183,600 shares during the period. Finally, Hsbc Holdings PLC increased its stake in NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the period. 48.55% of the stock is 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.