NIO (NYSE:NIO) Shares Down 3.4% – Here’s Why

NIO Inc. (NYSE:NIO) shares were down 3.4% during mid-day trading on Thursday . The stock traded as low as $4.73 and last traded at $4.7350. Approximately 34,063,353 shares traded hands during trading, a decline of 18% from the average daily volume of 41,467,359 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

NIO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 price target on shares of NIO in a research note on Friday, May 22nd. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Bank of America reiterated a “neutral” rating and set a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. Finally, Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.70.

NIO Stock Performance

The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of -8.61 and a beta of 0.92. The firm has a fifty day moving average of $5.80 and a 200 day moving average of $5.39. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the company posted ($0.41) earnings per share. NIO’s revenue for the quarter was up 112.2% on a year-over-year basis. On average, sell-side analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. Insigneo Advisory Services LLC increased its holdings in NIO by 4.4% in the third quarter. Insigneo Advisory Services LLC now owns 43,067 shares of the company’s stock valued at $328,000 after buying an additional 1,806 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of NIO by 17.4% in the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock worth $83,000 after acquiring an additional 2,027 shares during the period. Tidal Investments LLC boosted its stake in shares of NIO by 0.9% during the 2nd quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock worth $985,000 after acquiring an additional 2,433 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of NIO by 11.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 24,884 shares of the company’s stock worth $127,000 after acquiring an additional 2,586 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its position in shares of NIO by 26.4% during the 4th quarter. Wealthspire Advisors LLC now owns 12,980 shares of the company’s stock valued at $66,000 after acquiring an additional 2,707 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.