NIO (NYSE:NIO) Shares Gap Down - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.62, but opened at $3.45. NIO shares last traded at $3.52, with a volume of 6,900,684 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NIO. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. Mizuho reduced their price target 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. Finally, Citigroup cut their target price on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, NIO currently has a consensus rating of "Hold" and an average price target of $5.05.

NIO Price Performance

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 firm has a market cap of $7.82 billion, a P/E ratio of -2.47 and a beta of 1.74. The business's 50 day moving average is $4.16 and its two-hundred day moving average is $4.53.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The business 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 company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned ($2.81) EPS. As a group, analysts anticipate that Nio Inc - will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several institutional investors have recently made changes to their positions in NIO. Sanctuary Advisors LLC increased its holdings in shares of NIO by 63.1% during the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after acquiring an additional 32,069 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of NIO by 2.4% during the third quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock valued at $1,871,000 after buying an additional 6,545 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in shares of NIO during the third quarter worth about $374,000. Principal Financial Group Inc. lifted 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 in the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in NIO by 352.6% during the 4th quarter. FNY Investment Advisers LLC now owns 145,430 shares of the company's stock worth $634,000 after purchasing an additional 113,296 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.