NIO (NYSE:NIO) Shares Down 2.2% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s share price was down 2.2% during mid-day trading on Tuesday . The company traded as low as $4.22 and last traded at $4.22. Approximately 19,468,593 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 56,117,496 shares. The stock had previously closed at $4.31.

Wall Street Analyst Weigh In

NIO has been the subject of a number of research reports. Mizuho decreased their price target on NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, April 10th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of NIO in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.05.

NIO Trading Up 2.5 %

The firm's 50-day simple moving average is $4.10 and its 200 day simple moving average is $4.41. The stock has a market cap of $8.41 billion, a P/E ratio of -2.67 and a beta of 1.74. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.81) EPS. As a group, equities research analysts anticipate that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PDS Planning Inc increased its stake in shares of NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after purchasing an additional 2,712 shares during the period. Franklin Resources Inc. raised its stake in shares of NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock worth $72,000 after buying an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in NIO by 17.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock valued at $94,000 after buying an additional 3,152 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Company Profile

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.