NIO (NYSE:NIO) Shares Down 1.9% – What’s Next?

Nio Inc – (NYSE:NIO) traded down 1.9% on Wednesday . The company traded as low as $4.25 and last traded at $4.31. 21,448,699 shares traded hands during trading, a decline of 61% from the average session volume of 55,108,348 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of recent research reports. Mizuho dropped their target price on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research report on Monday. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.00.

NIO Price Performance

The firm has a market cap of $7.82 billion, a P/E ratio of -2.48 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm’s 50 day moving average is $4.44 and its 200 day moving average is $4.85.

NIO (NYSE:NIO) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.81) earnings per share. As a group, analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of NIO during the fourth quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new stake in shares of NIO during the fourth quarter valued at $537,000. FMR LLC increased its holdings in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in NIO in the 3rd quarter worth about $1,327,000. Institutional investors own 48.55% of the company’s stock.

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.