Short Interest in Nio Inc – (NYSE:NIO) Declines By 15.8%

Nio Inc – (NYSE:NIO) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 180,540,000 shares, a decline of 15.8% from the February 28th total of 214,300,000 shares. Approximately 8.7% of the company’s stock are short sold. Based on an average daily volume of 52,590,000 shares, the short-interest ratio is presently 3.4 days.

Analyst Ratings Changes

A number of equities analysts have commented on NIO shares. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup dropped their price objective on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. Cfra Research upgraded NIO to a “hold” rating in a research note on Friday, March 21st. Mizuho dropped their price target on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One equities research analyst has 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.17.

Institutional Trading of NIO

Several hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Quadrature Capital Ltd grew its holdings in NIO by 32.3% in 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 in the last quarter. Bridgewater Associates LP increased its position in NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. SG Americas Securities LLC raised its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Swedbank AB boosted its position in NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after acquiring an additional 9,000 shares during the period. 48.55% of the stock is currently owned by institutional investors.

NIO Stock Performance

NIO stock traded down $0.08 during midday trading on Thursday, reaching $3.73. The company had a trading volume of 29,640,782 shares, compared to its average volume of 55,818,135. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $4.40 and a 200 day moving average price of $4.80. The firm has a market capitalization of $7.77 billion, a PE ratio of -2.47 and a beta of 1.81. NIO has a fifty-two week low of $3.57 and a fifty-two week high of $7.71.

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

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.