NIO (NYSE:NIO) Trading Down 2.1% – Here’s What Happened

Nio Inc – (NYSE:NIO) shares were down 2.1% during mid-day trading on Thursday . The company traded as low as $3.63 and last traded at $3.72. Approximately 15,544,127 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 55,761,347 shares. The stock had previously closed at $3.80.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NIO. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Citigroup lowered their price target on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research report on Monday, March 24th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Mizuho decreased their target price on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.17.

NIO Stock Performance

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 firm has a market capitalization of $7.21 billion, a PE ratio of -2.29 and a beta of 1.74. The firm has a fifty day moving average price of $4.38 and a 200 day moving average price of $4.78.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.81) earnings per share. Research analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Toronto Dominion Bank boosted its position in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares during the period. SBI Securities Co. Ltd. purchased a new stake in NIO in the 4th quarter worth about $1,360,000. AlphaStar Capital Management LLC acquired a new stake in NIO during the 4th quarter worth about $537,000. FMR LLC grew its stake 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 acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of NIO in the 3rd quarter valued at about $1,327,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.