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

Nio Inc - (NYSE:NIO - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.82, but opened at $3.72. NIO shares last traded at $3.70, with a volume of 10,751,004 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NIO. Mizuho cut their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Citigroup reissued a "buy" rating on shares of NIO in a report on Monday, April 28th. Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, NIO has a consensus rating of "Hold" and an average target price of $5.05.

NIO Stock Down 3.5%

The firm's 50-day moving average price is $3.81 and its 200 day moving average price is $4.25. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -2.35 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the firm earned ($2.81) earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Nio Inc - will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp grew its stake 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 last quarter. Xponance Inc. acquired a new position in shares of NIO during the first quarter worth $39,000. Blueshift Asset Management LLC bought a new position in shares of NIO in the 1st quarter valued at $43,000. Finally, Callan Family Office LLC acquired a new stake in shares of NIO during the 4th quarter valued at $44,000. 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.