NIO (NYSE:NIO) Shares Down 2.6% - Here's What Happened

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

Analysts Set New Price Targets

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

NIO Stock Performance

The company has a market capitalization of $8.27 billion, a P/E ratio of -2.62 and a beta of 1.73. The stock's fifty day moving average price is $4.04 and its 200-day moving average price is $4.37. 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 released its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.81) EPS. As a group, research analysts anticipate that Nio Inc - will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after acquiring an additional 3,607 shares during the period. Jones Financial Companies Lllp boosted its stake in NIO by 131.8% in the 4th 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 during the period. Xponance Inc. acquired a new position in NIO in the 1st quarter valued at $39,000. Blueshift Asset Management LLC bought a new position in NIO during the 1st quarter worth $43,000. Finally, Callan Family Office LLC acquired a new stake in shares of NIO during the fourth quarter worth $44,000. 48.55% of the stock is owned by institutional investors.

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.