Nio Inc - (NYSE:NIO - Get Free Report)'s stock price fell 2.3% during mid-day trading on Thursday after Barclays lowered their price target on the stock from $4.00 to $3.00. Barclays currently has an underweight rating on the stock. NIO traded as low as $3.58 and last traded at $3.67. 13,295,967 shares were traded during mid-day trading, a decline of 75% from the average session volume of 53,180,137 shares. The stock had previously closed at $3.75.
Other research analysts have also issued reports about the stock. Mizuho cut their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday. 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. Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup reiterated a "buy" rating on shares of NIO in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $4.76.
Check Out Our Latest Stock Analysis on NIO
Institutional Investors Weigh In On NIO
A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after acquiring an additional 5,185,565 shares during the period. SG Americas Securities LLC grew its holdings in NIO by 83.3% during the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after acquiring an additional 958,750 shares during the period. Trexquant Investment LP acquired a new position in NIO during the fourth quarter worth about $3,305,000. Hsbc Holdings PLC grew its holdings in NIO by 96.6% during the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock worth $3,964,000 after acquiring an additional 510,610 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in NIO in the 4th quarter worth about $1,776,000. 48.55% of the stock is currently owned by institutional investors.
NIO Price Performance
The stock has a 50 day moving average of $3.77 and a two-hundred day moving average of $4.22. The stock has a market cap of $7.55 billion, a PE ratio of -2.39 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.
NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.39) EPS. Equities analysts anticipate that Nio Inc - will post -1.43 EPS for the current year.
NIO Company Profile
(
Get Free Report)
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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