NIO (NYSE:NIO) Stock Price Down 3.5%

Nio Inc - (NYSE:NIO - Get Free Report) shares traded down 3.5% during trading on Friday . The company traded as low as $3.85 and last traded at $3.86. 10,423,177 shares were traded during trading, a decline of 81% from the average session volume of 55,831,441 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Bank of America decreased their target price on NIO from $7.50 to $6.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Mizuho reiterated a "neutral" rating and set a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Barclays reiterated an "underweight" rating and set a $4.00 target price (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Jefferies Financial Group decreased their target price on NIO from $8.30 to $5.90 and set a "hold" rating on the stock in a research report on Wednesday, March 6th. Finally, Sanford C. Bernstein cut their price target on NIO from $7.50 to $5.50 and set a "market perform" rating for the company in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $8.43.

NIO Price Performance

The company has a 50-day moving average of $5.17 and a two-hundred day moving average of $6.71. The stock has a market capitalization of $6.52 billion, a PE ratio of -2.17 and a beta of 1.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share 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 business had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $18.16 billion. During the same quarter last year, the company posted ($0.51) earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Nio Inc - will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in NIO during the fourth quarter worth about $33,000. Bfsg LLC purchased a new position in shares of NIO in the 4th quarter worth about $33,000. Rakuten Securities Inc. purchased a new position in shares of NIO in the 4th quarter worth about $38,000. Principal Securities Inc. purchased a new position in shares of NIO in the 4th quarter worth about $42,000. Finally, Peoples Bank KS purchased a new position in shares of NIO in the 3rd quarter worth about $46,000. 48.55% of the stock is currently 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.