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

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.

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

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.