NIO (NYSE:NIO) Stock Price Down 0.4% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price dropped 0.4% on Wednesday . The stock traded as low as $5.19 and last traded at $5.21. Approximately 11,667,720 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 56,436,598 shares. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NIO. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Trading Down 4.0 %

The business’s 50 day moving average price is $5.26 and its two-hundred day moving average price is $4.83. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of -2.95 and a beta of 1.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the prior year, the company earned ($0.51) EPS. NIO’s revenue was up 98.9% compared to the same quarter last year. On average, equities analysts predict that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings 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 worth $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. Swedbank AB bought a new position in NIO during the 1st quarter worth approximately $5,343,000. AMF Tjanstepension AB lifted its position in shares of NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after purchasing an additional 889,900 shares during the period. SG Americas Securities LLC boosted its stake in shares of NIO by 64.6% in the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after purchasing an additional 744,067 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after acquiring an additional 535,400 shares in the last quarter. Institutional investors and hedge funds 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.