NIO (NYSE:NIO) Shares Down 3.1% - Here's What Happened

Key Points

• NIO shares fell 3.1% to $3.585 during Thursday trading, with volume about 12% above the average session level.
• Analyst sentiment has weakened, with JPMorgan cutting its rating to “neutral” and reducing its price target to $4.50. Overall, analysts have a consensus “Hold” rating and an average target price of $6.21.
• NIO remains unprofitable, reporting $4.73 billion in quarterly revenue and a negative net margin of 3.95%; institutional investors own approximately 48.55% of the company.

NIO Inc. (NYSE:NIO - Get Free Report) shares fell 3.1% during trading on Thursday . The stock traded as low as $3.57 and last traded at $3.5850. 42,301,516 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 37,938,066 shares. The stock had previously closed at $3.70.

Analyst Ratings Changes

NIO has been the topic of a number of analyst reports. Freedom Broker cut shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $6.10 price target on shares of NIO in a research report on Friday, September 4th. Zacks Research lowered NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.50 in a report on Wednesday, September 2nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a research note on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NIO has an average rating of "Hold" and an average target price of $6.21.

NIO Price Performance

The business's 50-day moving average price is $4.57 and its 200 day moving average price is $5.28. The stock has a market capitalization of $8.90 billion, a PE ratio of -13.28 and a beta of 0.92. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. The firm 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%. Research analysts forecast that NIO Inc. will post -0.16 earnings per share for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently modified their holdings of NIO. Engineers Gate Manager LP boosted its position in shares of NIO by 2.4% during the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company's stock valued at $774,000 after acquiring an additional 3,537 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of NIO by 2,045.0% in the second quarter. NewEdge Advisors LLC now owns 11,261 shares of the company's stock worth $57,000 after purchasing an additional 10,736 shares during the last quarter. Nykredit A S purchased a new stake in NIO in the second quarter valued at approximately $964,000. Corient Private Wealth LP raised its stake in NIO by 11.0% in the second quarter. Corient Private Wealth LP now owns 46,441 shares of the company's stock valued at $235,000 after purchasing an additional 4,593 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in NIO by 15.7% during the second quarter. HighTower Advisors LLC now owns 68,866 shares of the company's stock valued at $348,000 after purchasing an additional 9,357 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

About NIO

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO's vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.

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