NIO (NYSE:NIO) Shares Down 3.3% - Here's What Happened

Key Points

• NIO Inc. shares fell by 3.3%, trading at $4.56, with a significant drop in trading volume to approximately 17.5 million shares.
• Analysts have mixed ratings on NIO, with Goldman Sachs upgrading the stock to "neutral" and raising its price target to **$3.80**, while Barclays lowered its target to **$3.00** with an "underweight" rating.
• NIO reported a quarterly loss of **($0.45) EPS**, which was below analysts' estimates, and had a revenue of **$1.66 billion**, significantly missing consensus expectations of **$12.46 billion**.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $4.53 and last traded at $4.56. Approximately 17,496,290 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 50,411,211 shares. The stock had previously closed at $4.71.

Analysts Set New Price Targets

NIO has been the topic of several research analyst reports. Morgan Stanley restated a "buy" rating on shares of NIO in a research note on Monday, July 14th. Citigroup restated a "buy" rating on shares of NIO in a research note on Monday, April 28th. The Goldman Sachs Group upgraded shares of NIO from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Barclays lowered their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Finally, Mizuho lowered their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.74.

NIO Stock Performance

The stock has a market capitalization of $10.46 billion, a P/E ratio of -3.09 and a beta of 1.41. The firm has a 50-day moving average of $3.88 and a 200 day moving average of $4.05. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the business earned ($2.39) earnings per share. Research analysts anticipate that NIO Inc. will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. American Century Companies Inc. boosted its stake in shares of NIO by 6.3% in the 4th quarter. American Century Companies Inc. now owns 595,533 shares of the company's stock valued at $2,597,000 after purchasing an additional 35,464 shares in the last quarter. Sei Investments Co. boosted its stake in shares of NIO by 9.8% in the 4th quarter. Sei Investments Co. now owns 137,016 shares of the company's stock valued at $597,000 after purchasing an additional 12,222 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of NIO in the 4th quarter valued at $93,000. O Shaughnessy Asset Management LLC boosted its stake in shares of NIO by 28.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 41,104 shares of the company's stock valued at $179,000 after purchasing an additional 9,222 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

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.