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

NIO Inc. (NYSE:NIO - Get Free Report)'s share price dropped 1.3% on Thursday . The company traded as low as $3.42 and last traded at $3.43. Approximately 9,533,126 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 52,581,852 shares. The stock had previously closed at $3.47.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NIO. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. Barclays cut their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Mizuho decreased their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup restated a "buy" rating on shares of NIO in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Price Performance

The company's 50-day moving average is $3.79 and its 200-day moving average is $4.12. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of -2.11 and a beta of 1.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69.

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 analysts' consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned ($2.39) EPS. On average, research analysts expect that NIO Inc. will post -1.43 earnings per share for the current year.

Institutional Trading of NIO

Institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its position in NIO by 10.6% during the fourth quarter. US Bancorp DE now owns 97,406 shares of the company's stock valued at $425,000 after buying an additional 9,298 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of NIO by 131.8% in 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 during the period. SBI Securities Co. Ltd. acquired a new position in shares of NIO during the 4th quarter valued at $1,360,000. WMG Financial Advisors LLC boosted its position in NIO by 37.7% during the 4th quarter. WMG Financial Advisors LLC now owns 381,535 shares of the company's stock worth $1,663,000 after purchasing an additional 104,478 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in NIO in the 4th quarter valued at $1,776,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.

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