NIO (NYSE:NIO) Stock Price Down 3.8%

Nio Inc – (NYSE:NIO)’s share price fell 3.8% during mid-day trading on Tuesday . The stock traded as low as $4.47 and last traded at $4.51. 10,573,849 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 53,583,133 shares. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays reaffirmed an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Citigroup cut their price target on NIO from $10.40 to $8.50 and set a “buy” rating for the company in a report on Thursday, June 6th. Macquarie assumed coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 price objective on the stock. Mizuho reaffirmed a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Finally, JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $7.55.

NIO Stock Performance

The stock has a 50-day moving average of $4.77 and a 200 day moving average of $5.23. 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 firm has a market capitalization of $7.74 billion, a P/E ratio of -2.67 and a beta of 1.87.

NIO (NYSE:NIO) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. On average, research analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of large investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its position 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 purchasing an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC raised its position in shares of 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 lifted its stake in shares of NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in NIO by 64.6% in the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares during the period. 48.55% of the stock is currently 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.