NIO (NYSE:NIO) Stock Price Down 0.7%

Nio Inc – (NYSE:NIO)’s stock price traded down 0.7% on Wednesday . The stock traded as low as $5.43 and last traded at $5.44. 16,157,711 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 52,000,746 shares. The stock had previously closed at $5.48.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup lowered their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $5.30 to $8.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.93.

NIO Trading Down 5.7 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The firm’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $4.70.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, equities analysts predict that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its position in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after buying an additional 4,976,403 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of NIO in the fourth quarter valued at approximately $12,361,000. Swedbank AB acquired a new position in shares of NIO in the first quarter valued at approximately $5,343,000. Finally, Norges Bank acquired a new position in shares of NIO in the fourth quarter valued at approximately $9,652,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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.