Nio Inc - (NYSE:NIO - Get Free Report)'s stock price dropped 2.4% during trading on Friday . The company traded as low as $3.74 and last traded at $3.79. Approximately 9,678,672 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 53,490,111 shares. The stock had previously closed at $3.88.
Wall Street Analyst Weigh In
NIO has been the subject of several analyst reports. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Mizuho reduced their price target on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Citigroup reissued a "buy" rating on shares of NIO in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NIO has a consensus rating of "Hold" and an average price target of $5.05.
View Our Latest Report on NIO
NIO Trading Down 1.7%
The firm has a market cap of $7.96 billion, a PE ratio of -2.53 and a beta of 1.73. The firm has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $4.30. 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 posted its quarterly earnings data 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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the firm posted ($2.81) earnings per share. The business's revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that Nio Inc - will post -1.43 EPS for the current year.
Hedge Funds Weigh In On NIO
A number of institutional investors have recently added to or reduced their stakes in NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock valued at $20,255,000 after acquiring an additional 5,185,565 shares during the period. Advisors Asset Management Inc. grew its stake in shares of NIO by 39.1% in the 1st quarter. Advisors Asset Management Inc. now owns 123,467 shares of the company's stock worth $470,000 after buying an additional 34,678 shares during the last quarter. Rafferty Asset Management LLC increased its position in NIO by 38.9% during the 1st quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company's stock valued at $191,000 after buying an additional 14,028 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in NIO by 49.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company's stock valued at $70,000 after buying an additional 6,078 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in NIO by 25.5% in the first quarter. Compound Planning Inc. now owns 33,746 shares of the company's stock worth $129,000 after acquiring an additional 6,865 shares in the last quarter. 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.
See Also
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