NIO (NYSE:NIO) Shares Down 1.9% - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) fell 1.9% during mid-day trading on Thursday . The stock traded as low as $3.64 and last traded at $3.67. 6,836,197 shares were traded during mid-day trading, a decline of 87% from the average session volume of 52,714,911 shares. The stock had previously closed at $3.74.

Analysts Set New Price Targets

Several research firms recently issued reports on NIO. Citigroup restated a "buy" rating on shares of NIO in a report on Monday, April 28th. Mizuho decreased their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Barclays decreased their price target on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. Two equities research analysts have 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $4.76.

NIO Trading Down 2.9%

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's 50-day moving average price is $3.78 and its 200 day moving average price is $4.18. The company has a market capitalization of $7.34 billion, a P/E ratio of -2.33 and a beta of 1.62.

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

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. SG Americas Securities LLC grew its position in NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock worth $8,038,000 after purchasing an additional 958,750 shares in the last quarter. Bridgewater Associates LP grew its position in NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares in the last quarter. Hsbc Holdings PLC grew its position in NIO by 96.6% in the 1st quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock worth $3,964,000 after purchasing an additional 510,610 shares in the last quarter. Finally, SIH Partners LLLP grew its position in NIO by 23.1% in the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after purchasing an additional 175,000 shares in the last quarter. 48.55% of the stock is 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.