NIO (NYSE:NIO) Shares Down 2.6% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares dropped 2.6% on Tuesday . The stock traded as low as $3.85 and last traded at $3.88. Approximately 12,308,185 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 55,116,113 shares. The stock had previously closed at $3.98.

Analyst Ratings Changes

Several equities research analysts have commented on NIO shares. Mizuho lowered their price objective on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Citigroup restated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $5.05.

NIO Trading Up 3.3 %

The company has a market cap of $8.28 billion, a PE ratio of -2.62 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm's 50 day moving average is $4.05 and its 200 day moving average is $4.39.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.81) EPS. On average, equities analysts anticipate that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after purchasing an additional 958,750 shares during the period. Bridgewater Associates LP lifted its stake in NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after buying an additional 263,338 shares in the last quarter. Swedbank AB lifted 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 last quarter. SIH Partners LLLP grew its stake in shares of NIO by 23.1% in the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after purchasing an additional 175,000 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of NIO during the fourth quarter worth $3,305,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.