NIO (NYSE:NIO) Trading Down 2.3%

Nio Inc - (NYSE:NIO - Get Free Report)'s share price dropped 2.3% during mid-day trading on Wednesday . The company traded as low as $4.54 and last traded at $4.60. Approximately 13,299,712 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 56,691,258 shares. The stock had previously closed at $4.71.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Mizuho reaffirmed a "neutral" rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Bank of America lowered their target price on NIO from $7.50 to $6.50 and set a "neutral" rating for the company in a report on Wednesday, March 6th. UBS Group cut their price target on NIO from $8.00 to $7.20 and set a "neutral" rating on the stock in a report on Thursday, March 14th. The Goldman Sachs Group began coverage on NIO in a research note on Wednesday, January 3rd. They set a "neutral" rating for the company. Finally, Barclays reiterated an "underweight" rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of "Hold" and a consensus price target of $8.74.

NIO Trading Down 2.4 %

The firm has a market capitalization of $7.90 billion, a P/E ratio of -2.63 and a beta of 1.93. The business's 50 day moving average is $5.44 and its two-hundred day moving average is $6.94. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO - Get Free Report) last released its quarterly 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). The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. Analysts expect that Nio Inc - will post -1.26 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of NIO during the 1st quarter valued at $448,000. HighPoint Advisor Group LLC bought a new position in NIO during the fourth quarter valued at about $93,000. Napatree Capital LLC acquired a new position in NIO during the fourth quarter worth about $119,000. Quadrature Capital Ltd bought a new stake in NIO in the fourth quarter worth about $12,361,000. Finally, Fisher Asset Management LLC raised its position in NIO by 184.0% in the fourth 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 in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.