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

Nio Inc – (NYSE:NIO) gapped down before the market opened on Monday . The stock had previously closed at $5.22, but opened at $5.09. NIO shares last traded at $5.19, with a volume of 8,048,342 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently commented on NIO. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.93.

NIO Price Performance

The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $8.89 billion, a PE ratio of -3.07 and a beta of 1.86. The stock’s 50-day moving average is $5.16 and its two-hundred day moving average is $4.81.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the prior year, the company posted ($0.51) earnings per share. NIO’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 -1.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of NIO during the second quarter worth about $25,000. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the 3rd quarter worth $32,000. Sound Income Strategies LLC raised its position in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares during the period. Perigon Wealth Management LLC purchased a new stake in NIO in the 1st quarter valued at about $51,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in NIO during the second quarter worth $53,000. 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.