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

NIO Stock Performance

The firm has a market capitalization of $9.44 billion, a P/E ratio of -2.79 and a beta of 1.55. The company has a 50-day moving average of $3.83 and a 200-day moving average of $4.04. The company has a current ratio of 0.84, a quick ratio of 0.69 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 analysts' consensus estimates 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 net margin of 35.51% and a negative return on equity of 286.45%. The business's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.39) earnings per share. On average, equities analysts anticipate that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NIO. Xponance Inc. bought a new stake in shares of NIO in the first quarter worth about $39,000. Blueshift Asset Management LLC purchased a new position in shares of NIO during the first quarter valued at approximately $43,000. Annex Advisory Services LLC purchased a new position in shares of NIO during the first quarter valued at approximately $47,000. May Hill Capital LLC bought a new stake in shares of NIO during the first quarter valued at approximately $48,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of NIO during the first quarter valued at approximately $50,000. 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.

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