NIO (NYSE:NIO) Shares Down 8.6%

Shares of Nio Inc – (NYSE:NIO) dropped 8.6% during trading on Friday . The stock traded as low as $4.41 and last traded at $4.45. Approximately 27,955,455 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 54,555,410 shares. The stock had previously closed at $4.87.

Analyst Ratings Changes

NIO has been the subject of several recent analyst reports. Macquarie initiated coverage on shares of NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price for the company. Barclays reiterated an “underweight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Citigroup reduced their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, UBS Group reduced their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.55.

NIO Trading Down 6.4 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03. The company has a market cap of $7.84 billion, a price-to-earnings ratio of -2.63 and a beta of 1.86. The business’s 50-day simple moving average is $4.91 and its 200-day simple moving average is $5.61.

NIO (NYSE:NIO) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. Research analysts predict that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC grew its holdings in NIO by 5.6% in the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after purchasing an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after purchasing an additional 535,400 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in NIO by 11.9% in the third quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock valued at $20,853,000 after purchasing an additional 245,800 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.