NIO (NYSE:NIO) Stock Price Down 4.6% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 4.6% during mid-day trading on Wednesday . The stock traded as low as $4.01 and last traded at $4.05. 12,474,080 shares were traded during trading, a decline of 78% from the average session volume of 56,029,940 shares. The stock had previously closed at $4.24.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Citigroup reaffirmed a "buy" rating on shares of NIO in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Cfra Research raised NIO to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.05.

NIO Price Performance

The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -2.67 and a beta of 1.73. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average of $4.10 and a 200-day moving average of $4.41.

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

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in NIO during the 4th quarter worth $1,360,000. AlphaStar Capital Management LLC purchased a new stake in shares of NIO in the fourth quarter valued at about $537,000. SIH Partners LLLP boosted its stake in shares of NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after buying an additional 175,000 shares during the period. Arizona PSPRS Trust purchased a new position in shares of NIO during the fourth quarter worth about $1,330,000. Finally, Principal Financial Group Inc. increased its position in NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after acquiring an additional 43,839 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

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.