NIO (NYSE:NIO) Shares Down 2.3%

Shares of Nio Inc - (NYSE:NIO - Get Free Report) dropped 2.3% during trading on Tuesday . The company traded as low as $3.71 and last traded at $3.80. Approximately 20,025,532 shares were traded during trading, a decline of 65% from the average daily volume of 56,637,770 shares. The stock had previously closed at $3.89.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of NIO from $5.00 to $4.80 and set an "underweight" rating for the company in a report on Wednesday, March 6th. The Goldman Sachs Group started coverage on shares of NIO in a report on Wednesday, January 3rd. They set a "neutral" rating for the company. Bank of America dropped their price target 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. Macquarie started coverage on shares of NIO in a research report on Monday. They issued a "neutral" rating and a $5.00 price target for the company. Finally, UBS Group dropped their price target on shares of NIO from $8.00 to $7.20 and set a "neutral" rating for the company in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.43.

NIO Trading Down 2.1 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The stock's 50-day moving average is $5.29 and its two-hundred day moving average is $6.78. The stock has a market cap of $6.55 billion, a P/E ratio of -2.18 and a beta of 1.93.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share 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%. NIO's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) EPS. Equities research analysts anticipate that Nio Inc - will post -1.26 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently bought and sold shares of NIO. Norges Bank purchased a new stake in NIO during the fourth quarter valued at $155,344,000. Voloridge Investment Management LLC purchased a new stake in NIO during the fourth quarter valued at $73,622,000. Two Sigma Investments LP purchased a new stake in NIO during the first quarter valued at $71,533,000. Renaissance Technologies LLC raised its stake in NIO by 2,377.8% during the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company's stock valued at $113,704,000 after purchasing an additional 5,183,600 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company's stock valued at $64,070,000 after acquiring an additional 4,976,403 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.