NIO (NYSE:NIO) Shares Down 0.9%

Nio Inc - (NYSE:NIO - Get Free Report) shares were down 0.9% during trading on Thursday . The stock traded as low as $4.56 and last traded at $4.63. Approximately 21,029,108 shares changed hands during trading, a decline of 64% from the average daily volume of 57,790,508 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Several research firms recently commented on NIO. Bank of America decreased their price target on shares of NIO from $7.50 to $6.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 6th. Barclays cut their price objective on shares of NIO from $8.00 to $5.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 6th. JPMorgan Chase & Co. lowered their price objective on NIO from $5.00 to $4.80 and set an "underweight" rating on the stock in a research note on Wednesday, March 6th. The Goldman Sachs Group began coverage on NIO in a report on Wednesday, January 3rd. They set a "neutral" rating for the company. Finally, Jefferies Financial Group dropped their price objective on NIO from $8.30 to $5.90 and set a "hold" rating for the company in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.83.

NIO Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.74 billion, a PE ratio of -2.57 and a beta of 1.94. The stock has a 50-day moving average of $5.68 and a 200 day moving average of $7.26.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.51) earnings per share. Equities analysts predict that Nio Inc - will post -1.23 EPS for the current fiscal year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. HighPoint Advisor Group LLC acquired a new position in NIO during the 4th quarter worth approximately $93,000. Napatree Capital LLC acquired a new stake in shares of NIO in the 4th quarter worth approximately $119,000. Quadrature Capital Ltd acquired a new stake in shares of NIO in the 4th quarter worth approximately $12,361,000. Fisher Asset Management LLC grew its holdings in shares of NIO by 184.0% in the 4th quarter. Fisher Asset Management LLC now owns 244,766 shares of the company's stock worth $2,220,000 after acquiring an additional 158,595 shares during the period. Finally, Electron Capital Partners LLC grew its holdings in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock valued at $40,180,000 after buying an additional 235,521 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.