NIO (NYSE:NIO) Stock Price Down 1.9% - What's Next?

NIO Inc. (NYSE:NIO - Get Free Report)'s share price dropped 1.9% during trading on Monday . The stock traded as low as $3.41 and last traded at $3.45. Approximately 11,135,587 shares changed hands during trading, a decline of 79% from the average daily volume of 52,159,206 shares. The stock had previously closed at $3.51.

Wall Street Analyst Weigh In

NIO has been the subject of several analyst reports. Barclays cut their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Mizuho cut their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and upped their price target for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Citigroup restated a "buy" rating on shares of NIO in a research note on Monday, April 28th. Finally, Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, NIO has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Trading Up 2.6%

The company has a market cap of $7.31 billion, a price-to-earnings ratio of -2.16 and a beta of 1.55. The firm has a 50-day moving average price of $3.71 and a 200 day moving average price of $4.04. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.39) EPS. As a group, sell-side analysts forecast that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE grew its stake in NIO by 10.6% in the fourth quarter. US Bancorp DE now owns 97,406 shares of the company's stock valued at $425,000 after purchasing an additional 9,298 shares in the last quarter. Jones Financial Companies Lllp grew its stake in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Raymond James Financial Inc. purchased a new position in NIO in the fourth quarter valued at about $1,776,000. Callan Family Office LLC purchased a new position in NIO in the fourth quarter valued at about $44,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in NIO in the fourth quarter valued at about $67,000. Hedge funds and other 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.