NIO (NYSE:NIO) Stock Price Down 4.5% – Here’s Why

Nio Inc – (NYSE:NIO) fell 4.5% during trading on Wednesday . The company traded as low as $5.31 and last traded at $5.35. 23,957,674 shares traded hands during trading, a decline of 58% from the average session volume of 56,712,418 shares. The stock had previously closed at $5.60.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price target 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. Citigroup lowered their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded 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 report on Friday, September 6th. 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, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NIO presently has a consensus rating of “Hold” and an average price target of $6.11.

NIO Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The firm’s 50-day simple moving average is $5.39 and its 200-day simple moving average is $4.86.

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

Institutional Trading of NIO

A number of hedge funds have recently added to or reduced their stakes in NIO. Oppenheimer & Co. Inc. raised its holdings in shares of NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after purchasing an additional 2,000 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after buying an additional 2,038 shares in the last quarter. Ballentine Partners LLC lifted its holdings in NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after buying an additional 2,482 shares during the period. Atomi Financial Group Inc. boosted its position in NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after acquiring an additional 2,588 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after acquiring an additional 2,651 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.