NIO (NYSE:NIO) Stock Price Down 2.1%

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 2.1% during mid-day trading on Wednesday . The company traded as low as $3.71 and last traded at $3.81. 42,222,200 shares traded hands during trading, a decline of 20% from the average session volume of 53,061,916 shares. The stock had previously closed at $3.89.

Analysts Set New Price Targets

NIO has been the subject of several research reports. Jefferies Financial Group decreased their price objective on shares of NIO from $8.30 to $5.90 and set a "hold" rating for the company in a research note on Wednesday, March 6th. Sanford C. Bernstein lowered their price target on shares of NIO from $7.50 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, March 7th. Mizuho reiterated a "neutral" rating and set a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Barclays reissued an "underweight" rating and issued a $4.00 price objective (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Finally, Bank of America dropped 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $8.43.

NIO Price Performance

The firm has a market capitalization of $6.73 billion, a PE ratio of -2.24 and a beta of 1.93. 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 50-day moving average price of $5.25 and a 200 day moving average price of $6.76.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly 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). 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 period in the previous year, the firm posted ($0.51) EPS. NIO's revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Nio Inc - will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in shares of NIO by 352.5% during the third quarter. SG Americas Securities LLC now owns 630,470 shares of the company's stock worth $5,699,000 after buying an additional 491,140 shares in the last quarter. Electron Capital Partners LLC acquired a new stake in NIO in the 3rd quarter valued at about $37,918,000. Top Ace Asset Management Ltd acquired a new stake in NIO in the 3rd quarter valued at about $1,888,000. Banque Pictet & Cie SA purchased a new position in NIO in the 3rd quarter worth approximately $2,486,000. Finally, Meridian Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 74,968 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other 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.