NIO (NYSE:NIO) Trading Down 4.9% – Here’s What Happened

NIO Inc. (NYSE:NIO) traded down 4.9% during mid-day trading on Wednesday . The company traded as low as $4.73 and last traded at $4.7850. 93,830,523 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 59,657,402 shares. The stock had previously closed at $5.03.

Analyst Ratings Changes

A number of brokerages have weighed in on NIO. Bank of America increased their price target on NIO from $5.00 to $7.10 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Barclays increased their price target on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Friday, November 28th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $4.80 to $8.00 in a research report on Tuesday, August 26th. Wall Street Zen raised shares of NIO from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Macquarie set a $5.30 price target on shares of NIO in a research note on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.73.

NIO Stock Down 4.9%

The firm has a market cap of $9.99 billion, a P/E ratio of -3.30 and a beta of 1.04. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. The stock’s fifty day moving average is $6.72 and its two-hundred day moving average is $5.40.

NIO (NYSE:NIO) last issued its earnings results on Tuesday, September 2nd. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $20.07 billion. NIO had a negative net margin of 31.17% and a negative return on equity of 1,085.61%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.21) earnings per share. As a group, research analysts anticipate that NIO Inc. will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently modified their holdings of NIO. Gladstone Institutional Advisory LLC lifted its stake in shares of NIO by 12.8% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 13,231 shares of the company’s stock worth $101,000 after purchasing an additional 1,500 shares during the period. MGO One Seven LLC increased its position in shares of NIO by 10.6% during the 3rd quarter. MGO One Seven LLC now owns 16,208 shares of the company’s stock valued at $124,000 after purchasing an additional 1,560 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in NIO by 4.4% in the third quarter. Insigneo Advisory Services LLC now owns 43,067 shares of the company’s stock worth $328,000 after purchasing an additional 1,806 shares during the last quarter. Tidal Investments LLC increased its stake in NIO by 0.9% in the 2nd quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock worth $985,000 after buying an additional 2,433 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in NIO by 148.3% in the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares in the last quarter. Institutional investors 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.