NIO (NYSE:NIO) Shares Down 1% - Here's What Happened

Key Points

• NIO shares fell 1% to approximately $3.395 during Monday trading, with volume below its average. The stock remains below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans neutral: six analysts rate NIO a Buy, seven a Hold and two a Sell, resulting in a consensus Hold rating and a $5.87 average price target.
• Institutional investors increased their positions, with hedge funds and institutions owning 48.55% of NIO. Despite quarterly revenue of $4.73 billion, the company reported negative profitability metrics and analysts expect a full-year loss.

Shares of NIO Inc. (NYSE:NIO - Get Free Report) were down 1% during trading on Monday. The stock traded as low as $3.36 and last traded at $3.3950. Approximately 22,503,899 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 37,016,707 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of NIO in a research report on Wednesday, July 29th. Sanford C. Bernstein lowered their price target on shares of NIO from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Wednesday, September 2nd. Royal Bank Of Canada downgraded shares of NIO to a "sector perform" rating in a research report on Thursday, September 3rd. The Goldman Sachs Group restated a "buy" rating and issued a $6.10 price target on shares of NIO in a research report on Friday, September 4th. Finally, Zacks Research lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.87.

NIO Trading Down 1.0%

The company has a market cap of $8.43 billion, a price-to-earnings ratio of -12.57 and a beta of 0.92. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The firm's 50-day moving average price is $3.89 and its 200 day moving average price is $4.94.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The business 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%. As a group, equities analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Trading of NIO

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 7,079,903 shares during the last quarter. Renaissance Technologies LLC increased its stake in 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 buying an additional 5,962,731 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in NIO in the 2nd quarter valued at about $19,008,000. SG Americas Securities LLC increased its stake in NIO by 67.2% in the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company's stock valued at $30,314,000 after buying an additional 2,020,754 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of NIO by 651.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company's stock worth $8,051,000 after buying an additional 1,387,656 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.