NIO (NYSE:NIO) Trading Down 3.1% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price fell 3.1% on Friday . The company traded as low as $3.54 and last traded at $3.57. 15,079,199 shares changed hands during trading, a decline of 72% from the average session volume of 53,243,842 shares. The stock had previously closed at $3.68.

Wall Street Analysts Forecast Growth

NIO has been the topic of several research reports. Mizuho dropped their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Citigroup restated a "buy" rating on shares of NIO in a research note on Monday, April 28th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. 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 stock. According to data from MarketBeat.com, NIO has an average rating of "Hold" and an average price target of $5.05.

NIO Trading Down 0.7%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a market capitalization of $7.34 billion, a P/E ratio of -2.33 and a beta of 1.73. The firm has a 50 day moving average price of $3.79 and a two-hundred day moving average price of $4.24.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of NIO during the fourth quarter worth $1,360,000. AlphaStar Capital Management LLC bought a new stake in NIO in the fourth quarter valued at approximately $537,000. SIH Partners LLLP boosted its holdings in shares of NIO by 23.1% during the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after buying an additional 175,000 shares during the period. Arizona PSPRS Trust acquired a new position in NIO in the 4th quarter valued at $1,330,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $1,776,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.