NIO (NYSE:NIO) Shares Down 3.8% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s share price was down 3.8% during mid-day trading on Tuesday . The stock traded as low as $3.63 and last traded at $3.68. Approximately 17,622,742 shares traded hands during trading, a decline of 67% from the average daily volume of 53,416,362 shares. The stock had previously closed at $3.82.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NIO shares. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho reduced their price target on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Cfra Research raised NIO to a "hold" rating in a research note on Friday, March 21st. Finally, Citigroup reissued a "buy" rating on shares of NIO in a research note on Monday, April 28th. One equities research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.05.

NIO Trading Down 0.1%

The firm has a 50 day moving average of $3.84 and a 200-day moving average of $4.26. 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 firm has a market capitalization of $7.69 billion, a P/E ratio of -2.44 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last released 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 return on equity of 113.83% and a negative net margin of 33.41%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.81) earnings per share. On average, equities research analysts predict that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of NIO by 138.5% during the fourth 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 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 worth $33,000 after acquiring an additional 4,332 shares during the last quarter. Sava Infond d.o.o. bought a new position in shares of NIO during the fourth quarter valued at $44,000. Callan Family Office LLC acquired a new position in NIO during the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. bought a new stake in shares of NIO in the 4th quarter valued at about $45,000. 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.