NIO (NYSE:NIO) Shares Gap Down to $5.02

Nio Inc – (NYSE:NIO) gapped down before the market opened on Monday . The stock had previously closed at $5.02, but opened at $4.88. NIO shares last traded at $4.91, with a volume of 10,144,666 shares.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup lowered their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research initiated coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Bank of America lifted their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Stock Performance

The company has a 50-day moving average of $4.31 and a 200 day moving average of $4.69. The firm has a market capitalization of $9.43 billion, a PE ratio of -3.25 and a beta of 1.82. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last posted its quarterly earnings data 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 net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the prior year, the business earned ($0.51) earnings per share. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. Equities research analysts predict that Nio Inc – will post -1.41 EPS for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC increased its stake in NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after acquiring an additional 4,976,403 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of 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 last quarter. Quadrature Capital Ltd bought a new stake in NIO in the 4th quarter worth approximately $12,361,000. Swedbank AB purchased a new stake in NIO in the first quarter worth approximately $5,343,000. Finally, Norges Bank bought a new stake in shares of NIO in the 4th quarter worth approximately $9,652,000. 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.