NIO (NYSE:NIO) Shares Down 1.5% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $4.52 and last traded at $4.60. Approximately 26,136,404 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 56,451,168 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. 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. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.91.

NIO Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a fifty day moving average price of $5.52 and a 200 day moving average price of $4.91.

NIO (NYSE:NIO) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, equities analysts predict that Nio Inc – will post -1.38 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Toronto Dominion Bank raised its holdings in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares during the period. Main Management ETF Advisors LLC bought a new stake in NIO in the 3rd quarter valued at approximately $1,327,000. XTX Topco Ltd acquired a new position in NIO during the third quarter worth $1,178,000. Quadrature Capital Ltd boosted its stake in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares during the last quarter. Finally, Hilltop Holdings Inc. bought a new position in NIO in the third quarter valued at approximately $130,000. 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.