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

Nio Inc - (NYSE:NIO - Get Free Report)'s share price traded down 1.3% during mid-day trading on Monday . The stock traded as low as $3.48 and last traded at $3.50. 15,258,639 shares changed hands during trading, a decline of 71% from the average session volume of 53,076,325 shares. The stock had previously closed at $3.54.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of NIO in a research note on Monday, April 28th. Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. Mizuho decreased their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Barclays decreased their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $4.76.

NIO Trading Down 3.6%

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 company has a market capitalization of $7.55 billion, a PE ratio of -2.39 and a beta of 1.73. The firm's 50 day simple moving average is $3.77 and its 200-day simple moving average is $4.22.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the previous year, the company earned ($2.39) earnings per share. The business's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts anticipate that Nio Inc - will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of NIO by 138.5% in 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 in the last quarter. Jones Financial Companies Lllp raised its position in shares of 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 acquiring an additional 4,332 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of NIO during the 4th quarter valued at approximately $44,000. Callan Family Office LLC acquired a new stake in shares of NIO during the 4th quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. acquired a new stake in shares of NIO during the 4th quarter valued at approximately $45,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.