NIO (NYSE:NIO) Trading Down 2.8%

Nio Inc - (NYSE:NIO - Get Free Report) shares traded down 2.8% during trading on Thursday . The company traded as low as $4.43 and last traded at $4.46. 12,121,805 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 56,303,234 shares. The stock had previously closed at $4.59.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America decreased their price objective on shares of NIO from $7.50 to $6.50 and set a "neutral" rating for the company in a research report on Wednesday, March 6th. JPMorgan Chase & Co. decreased their price objective on shares of NIO from $5.00 to $4.80 and set an "underweight" rating for the company in a research report on Wednesday, March 6th. Jefferies Financial Group reduced their target price on shares of NIO from $8.30 to $5.90 and set a "hold" rating for the company in a report on Wednesday, March 6th. Mizuho reaffirmed a "neutral" rating and set a $5.50 target price on shares of NIO in a report on Monday, March 25th. Finally, Barclays reaffirmed an "underweight" rating and set a $4.00 target price (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, NIO has a consensus rating of "Hold" and an average target price of $8.74.

NIO Stock Down 2.7 %

The firm's 50-day moving average price is $5.42 and its 200 day moving average price is $6.92. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -2.54 and a beta of 1.93. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (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 analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. NIO's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) earnings per share. On average, sell-side analysts forecast that Nio Inc - will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in NIO by 352.5% during the 3rd quarter. SG Americas Securities LLC now owns 630,470 shares of the company's stock worth $5,699,000 after acquiring an additional 491,140 shares during the last quarter. Electron Capital Partners LLC bought a new stake in NIO during the 3rd quarter worth approximately $37,918,000. Top Ace Asset Management Ltd bought a new stake in NIO during the 3rd quarter worth approximately $1,888,000. Banque Pictet & Cie SA bought a new stake in NIO during the 3rd quarter worth approximately $2,486,000. Finally, Meridian Wealth Management LLC grew its holdings in NIO by 503.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company's stock worth $812,000 after acquiring an additional 74,968 shares during the last quarter. 48.55% of the stock is currently 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.