NIO (NYSE:NIO) Trading Down 1.1% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price was down 1.1% during trading on Monday . The stock traded as low as $4.43 and last traded at $4.43. Approximately 14,313,998 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 56,576,227 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NIO shares. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Wolfe Research initiated coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The company has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $4.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market cap of $7.55 billion, a PE ratio of -2.93 and a beta of 1.91.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The company’s revenue was up 98.9% compared to the same quarter last year. Sell-side analysts expect that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its position in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. FMR LLC boosted its position in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Quadrature Capital Ltd boosted its position in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the period. Krane Funds Advisors LLC boosted its position in NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after purchasing an additional 370,556 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after purchasing an additional 343,910 shares during the period. 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.