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

Nio Inc - (NYSE:NIO - Get Free Report)'s share 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 traded hands 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.

NIO has been the topic of a number of other reports. Mizuho reduced their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $4.76.

Hedge Funds Weigh In On NIO

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp grew its stake in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Xponance Inc. acquired a new position in shares of NIO in the 1st quarter worth approximately $39,000. Blueshift Asset Management LLC acquired a new position in shares of NIO in the 1st quarter worth approximately $43,000. Finally, Callan Family Office LLC acquired a new position in shares of NIO in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Price Performance

The company's 50 day moving average price is $3.76 and its 200-day moving average price is $4.20. The company has a market cap of $7.58 billion, a price-to-earnings ratio of -2.40 and a beta of 1.62. 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 announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.23). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the prior year, the firm earned ($2.39) EPS. The business's revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities research analysts forecast that Nio Inc - will post -1.43 earnings per share for the current fiscal 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.