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NIO (NYSE:NIO) Stock Price Down 1.3% - Here's What Happened

NIO logo with Auto/Tires/Trucks background

NIO Inc. (NYSE:NIO - Get Free Report) dropped 1.3% during trading on Wednesday . The stock traded as low as $5.08 and last traded at $4.94. Approximately 40,502,473 shares were traded during trading, a decline of 25% from the average daily volume of 54,103,752 shares. The stock had previously closed at $5.01.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NIO. Barclays cut their price target on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. Morgan Stanley reiterated a "buy" rating on shares of NIO in a report on Monday, July 14th. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and increased their price target for the stock from $3.70 to $3.80 in a report on Tuesday, June 17th. Mizuho dropped their target price on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of NIO in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.74.

Check Out Our Latest Stock Analysis on NIO

NIO Stock Performance

The company has a market capitalization of $10.01 billion, a PE ratio of -2.97 and a beta of 1.55. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The company has a 50-day moving average price of $3.76 and a two-hundred day moving average price of $4.03.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. NIO's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.39) earnings per share. Analysts predict that NIO Inc. will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently added to or reduced their stakes in NIO. Xponance Inc. bought a new stake in NIO during the first quarter valued at $39,000. Blueshift Asset Management LLC purchased a new position in shares of NIO in the 1st quarter worth about $43,000. Sava Infond d.o.o. purchased a new position in shares of NIO in the 4th quarter worth about $44,000. Annex Advisory Services LLC purchased a new position in shares of NIO in the 1st quarter worth about $47,000. Finally, May Hill Capital LLC purchased a new position in shares of NIO in the 1st quarter worth about $48,000. Institutional investors own 48.55% of the company's stock.

NIO Company Profile

(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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