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

NIO logo with Auto/Tires/Trucks background

Nio Inc - (NYSE:NIO - Get Free Report) 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 trading hands.

Analyst Upgrades and Downgrades

NIO has been the subject of several research reports. Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday, April 28th. Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Mizuho reduced their target price 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NIO presently has a consensus rating of "Hold" and an average price target of $5.05.

View Our Latest Research Report on NIO

NIO Stock Up 1.2%

The stock has a 50 day moving average of $3.84 and a 200-day moving average of $4.26. The firm has a market capitalization of $7.80 billion, a P/E ratio of -2.47 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS 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 business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the business earned ($2.81) earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. Research analysts predict that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after buying an additional 4,332 shares in the last quarter. Xponance Inc. purchased a new stake in NIO during the 1st quarter valued at approximately $39,000. Blueshift Asset Management LLC purchased a new stake in NIO during the 1st quarter valued at approximately $43,000. Finally, Callan Family Office LLC purchased a new stake in NIO during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

About NIO

(Get Free Report)

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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