NIO (NYSE:NIO) Shares Down 2.3% on Analyst Downgrade

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.

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

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.