NIO (NYSE:NIO) Hits New 12-Month Low - What's Next?

Key Points

• NIO hit a new 52-week low, trading as low as $3.15 and last at $3.155, down from the prior close of $3.30.
• Analyst sentiment is mixed but averages to Hold: six analysts rate the stock Buy, seven Hold and two Sell, with an average price target of $5.78. Recent moves included price-target cuts and downgrades to Hold.
• NIO reported quarterly revenue of $4.73 billion and EPS of $0.00, but remains unprofitable, with a negative net margin of 3.95%; analysts expect a loss for the current fiscal year.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $3.15 and last traded at $3.1550, with a volume of 10,734,234 shares changing hands. The stock had previously closed at $3.30.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Freedom Broker cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Citigroup reissued a "buy" rating on shares of NIO in a report on Tuesday, September 1st. Sanford C. Bernstein cut their price objective on NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a report on Tuesday, October 27th. Finally, Zacks Research lowered NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NIO currently has an average rating of "Hold" and an average price target of $5.78.

NIO Stock Down 4.1%

The stock's fifty day simple moving average is $3.58 and its two-hundred day simple moving average is $4.87. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of -11.69 and a beta of 0.89.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. The business had revenue of $4.73 billion during the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. On average, sell-side analysts predict that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of NIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in shares of NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock valued at $8,051,000 after purchasing an additional 1,387,656 shares during the period. Renaissance Technologies LLC boosted its position in shares of NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock valued at $87,146,000 after purchasing an additional 5,962,731 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of NIO in the 2nd quarter valued at $19,008,000. Finally, ABC Arbitrage SA purchased a new position in NIO in the 1st quarter worth about $4,043,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.

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