Shares of Nio Inc – (NYSE:NIO – Get Free Report) dropped 0.5% on Tuesday . The stock traded as low as $4.00 and last traded at $4.01. Approximately 7,204,724 shares traded hands during trading, a decline of 86% from the average daily volume of 50,845,637 shares. The stock had previously closed at $4.03.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Citigroup decreased their target price on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. Finally, Bank of America increased their price objective on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.55.
View Our Latest Stock Analysis on NIO
NIO Trading Down 7.6 %
NIO (NYSE:NIO – Get Free Report) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. On average, equities analysts predict that Nio Inc – will post -1.41 earnings per share for the current fiscal year.
Institutional Trading of NIO
Several institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new position in shares of NIO in the 4th quarter worth approximately $42,000. Ridgewood Investments LLC bought a new stake in NIO during the second quarter valued at $25,000. Newbridge Financial Services Group Inc. grew its holdings in NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after acquiring an additional 6,875 shares during the period. Calton & Associates Inc. acquired a new position in shares of NIO in the 4th quarter valued at about $92,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of NIO during the 4th quarter valued at about $93,000. 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.
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