NIO (NYSE:NIO) Stock Price Down 4.7%

Nio Inc – (NYSE:NIO) was down 4.7% during trading on Thursday . The stock traded as low as $4.41 and last traded at $4.42. Approximately 12,522,685 shares changed hands during trading, a decline of 77% from the average daily volume of 54,627,473 shares. The stock had previously closed at $4.64.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. UBS Group reduced their price objective on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. Barclays reissued an “underweight” rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Finally, Macquarie assumed coverage on shares of NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.55.

NIO Trading Down 5.2 %

The stock has a market cap of $7.15 billion, a PE ratio of -2.46 and a beta of 1.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The business has a 50-day moving average of $4.86 and a 200 day moving average of $5.69.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. Equities research analysts predict that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC increased its stake in NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of NIO by 11.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock worth $20,853,000 after purchasing an additional 245,800 shares during the period. Institutional investors and hedge funds 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.