NIO (NYSE:NIO) Shares Gap Down to $3.89

Shares of Nio Inc - (NYSE:NIO - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $3.89, but opened at $3.75. NIO shares last traded at $3.76, with a volume of 11,852,402 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on NIO shares. Bank of America lowered their target price on NIO from $7.50 to $6.50 and set a "neutral" rating on the stock in a report on Wednesday, March 6th. Jefferies Financial Group decreased their price objective on NIO from $8.30 to $5.90 and set a "hold" rating on the stock in a research note on Wednesday, March 6th. Mizuho reaffirmed a "neutral" rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. The Goldman Sachs Group assumed coverage on NIO in a research note on Wednesday, January 3rd. They issued a "neutral" rating on the stock. Finally, UBS Group decreased their price objective on NIO from $8.00 to $7.20 and set a "neutral" rating on the stock in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $8.43.

NIO Price Performance

The firm has a market cap of $6.55 billion, a PE ratio of -2.18 and a beta of 1.93. The firm has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $6.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing analysts' consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $18.16 billion. During the same quarter last year, the firm posted ($0.51) EPS. NIO's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts predict that Nio Inc - will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in NIO during the 4th quarter valued at about $33,000. Bfsg LLC acquired a new stake in shares of NIO in the fourth quarter valued at approximately $33,000. Rakuten Securities Inc. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $38,000. Principal Securities Inc. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $42,000. Finally, Peoples Bank KS purchased a new position in NIO in the third quarter worth approximately $46,000. 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.