NIO (NYSE:NIO) Reaches New 52-Week Low - What's Next?

Key Points

• NIO hit a new 52-week low of $3.06 on Thursday, and last traded at $3.1210, down from its prior close of $3.24.
• Analyst sentiment is mixed but leans neutral: six analysts rate NIO a Buy, seven a Hold and two a Sell, with a consensus target of $5.78. Several firms recently downgraded the stock or lowered price targets.
• NIO reported quarterly revenue of $4.73 billion and earnings per share of $0.00; analysts expect a loss of $0.13 per share for the current fiscal year.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) reached a new 52-week low on Thursday. The company traded as low as $3.06 and last traded at $3.1210, with a volume of 7,737,495 shares. The stock had previously closed at $3.24.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NIO shares. Freedom Broker downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Zacks Research downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein dropped their target price on shares of NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. cut their price target on shares of NIO from $4.50 to $3.70 and set a "neutral" rating on the stock in a research note on Monday, October 26th. Finally, Royal Bank Of Canada cut shares of NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.78.

NIO Stock Performance

The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -11.39 and a beta of 0.89. The stock's 50 day moving average is $3.48 and its two-hundred day moving average is $4.83. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. Analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake 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 worth $87,146,000 after acquiring an additional 5,962,731 shares during the period. Bank of America Corp DE increased its stake 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 worth $85,800,000 after acquiring an additional 7,079,903 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of NIO during the second quarter worth about $19,008,000. Hsbc Holdings PLC increased its stake in shares of NIO by 651.5% during the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock worth $8,051,000 after acquiring an additional 1,387,656 shares during the period. Finally, KBC Group NV raised its holdings in NIO by 39.7% during the first quarter. KBC Group NV now owns 583,722 shares of the company's stock worth $3,520,000 after purchasing an additional 165,741 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc. is a China-based electric vehicle company founded in 2014. The company designs, develops, and sells premium smart electric vehicles, including sedans and sport utility vehicles, primarily under the NIO brand. Alongside its vehicles, NIO offers battery-swapping and charging services, vehicle software and connectivity features, and related ownership services. Its battery-as-a-service offering allows customers to separate battery use from vehicle purchase. NIO serves customers in China and selected European markets.

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