NIO (NYSE:NIO) Trading Down 1.4% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price was down 1.4% on Monday . The stock traded as low as $4.64 and last traded at $4.77. Approximately 23,878,189 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 56,746,316 shares. The stock had previously closed at $4.84.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NIO shares. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a research report on Monday. Finally, Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The firm has a market capitalization of $8.03 billion, a P/E ratio of -3.09 and a beta of 1.91. The company has a fifty day moving average of $5.49 and a 200 day moving average of $4.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. Sell-side analysts predict that Nio Inc – will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its position in shares of NIO by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after acquiring an additional 6,545 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of NIO by 63.1% during the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after purchasing an additional 32,069 shares during the period. Toronto Dominion Bank boosted its position in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of NIO in the 3rd quarter valued at about $1,327,000. Finally, XTX Topco Ltd bought a new stake in NIO in the 3rd quarter valued at about $1,178,000. 48.55% of the stock is currently owned by 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.