NIO (NYSE:NIO) Shares Gap Down to $3.89

Nio Inc – (NYSE:NIO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.89, but opened at $3.75. NIO shares last traded at $3.76, with a volume of 11,852,402 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NIO shares. Barclays restated an “underweight” rating and set a $4.00 target price (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. Bank of America dropped their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Mizuho restated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research report on Monday, March 25th. Finally, Macquarie initiated coverage on NIO in a research note on Monday. They issued a “neutral” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.43.

NIO Stock Performance

The company has a fifty day moving average price of $5.25 and a 200-day moving average price of $6.76. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the previous year, the company earned ($0.51) EPS. NIO’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Nio Inc – will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Bfsg LLC bought a new position in shares of NIO during the 4th quarter valued at approximately $33,000. Point72 Asset Management L.P. bought a new position in NIO during the fourth quarter valued at $33,000. Rakuten Securities Inc. purchased a new stake in shares of NIO in the fourth quarter valued at $38,000. Principal Securities Inc. bought a new stake in shares of NIO in the 4th quarter worth about $42,000. Finally, Peoples Bank KS purchased a new position in shares of NIO during the 3rd quarter worth about $46,000. 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.