NIO (NYSE:NIO) Stock Price Down 3.8%

Nio Inc – (NYSE:NIO)’s share price was down 3.8% during mid-day trading on Tuesday . The stock traded as low as $4.47 and last traded at $4.51. Approximately 10,573,849 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 53,583,133 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup dropped their price objective on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Bank of America raised their target price on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Barclays reissued an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Macquarie began coverage on NIO in a report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The firm has a market cap of $7.37 billion, a P/E ratio of -2.60 and a beta of 1.86. The business’s fifty day moving average is $4.72 and its 200-day moving average is $5.19.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) 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%. Analysts predict that Nio Inc – will post -1.41 EPS for the current year.

Hedge Funds Weigh In On NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in NIO. Stratos Wealth Partners LTD. boosted its stake in shares of NIO by 9.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock valued at $182,000 after purchasing an additional 1,816 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after buying an additional 2,000 shares during the period. Fountainhead AM LLC grew its stake in NIO by 20.0% in the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock valued at $109,000 after acquiring an additional 2,012 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after acquiring an additional 2,038 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of NIO by 11.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock worth $181,000 after purchasing an additional 2,092 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.