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

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NIO shares. 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 research note on Tuesday, February 4th. Mizuho dropped their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Citigroup restated a "buy" rating on shares of NIO in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIO presently has an average rating of "Hold" and an average target price of $5.05.

NIO Stock Performance

The stock has a market cap of $8.45 billion, a price-to-earnings ratio of -2.68 and a beta of 1.74. 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 company has a 50 day simple moving average of $4.12 and a 200 day simple moving average of $4.45.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted ($2.81) earnings per share. As a group, equities research analysts forecast that Nio Inc - will post -1.43 EPS for the current year.

Institutional Trading of NIO

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its position 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 last quarter. Jones Financial Companies Lllp increased its position in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC bought a new position in NIO during the fourth quarter worth $44,000. Sava Infond d.o.o. acquired a new position in NIO in the fourth quarter valued at $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO during the fourth quarter valued at $45,000. 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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