NIO (NYSE:NIO) Trading Down 0.7%

Nio Inc – (NYSE:NIO)’s share price was down 0.7% during trading on Friday . The stock traded as low as $4.24 and last traded at $4.30. Approximately 6,451,114 shares traded hands during trading, a decline of 88% from the average daily volume of 55,342,477 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on NIO shares. Sanford C. Bernstein dropped their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Bank of America raised their price target on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Macquarie started coverage on shares of NIO in a research note on Monday, April 15th. They set a “neutral” rating and a $5.00 price target for the company. Mizuho restated a “neutral” rating and set a $5.50 price target on shares of NIO in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.55.

NIO Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The firm has a market capitalization of $7.39 billion, a P/E ratio of -2.54 and a beta of 1.80. The firm’s 50 day simple moving average is $4.80 and its two-hundred day simple moving average is $5.82.

NIO (NYSE:NIO) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, analysts predict that Nio Inc – will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its holdings in NIO by 238.6% in 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. Electron Capital Partners LLC purchased a new stake in NIO in the third quarter worth about $37,918,000. Quadrature Capital Ltd purchased a new stake in NIO in the fourth quarter worth about $12,361,000. Swedbank AB purchased a new stake in NIO in the first quarter worth about $5,343,000. Finally, Norges Bank purchased a new stake in NIO in the fourth quarter worth about $9,652,000. Hedge funds and other 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.