NIO (NYSE:NIO) Shares Down 4.8% - What's Next?

Key Points

• NIO shares fell 4.8% to $2.905 in Friday midday trading, while volume reached 60.2 million shares—64% above the average.
• Analyst views are mixed: six rate the stock Buy, seven Hold and two Sell. MarketBeat reports an average rating of Hold and an average price target of $5.78.
• 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.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 4.8% during mid-day trading on Friday. The stock traded as low as $2.89 and last traded at $2.9050. 60,170,915 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 36,778,977 shares. The stock had previously closed at $3.05.

Analysts Set New Price Targets

NIO has been the subject of a number of research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $6.10 price objective on shares of NIO in a research note on Friday, September 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a research report on Tuesday, October 27th. Citigroup reaffirmed a "buy" rating on shares of NIO in a research report on Tuesday, September 1st. Zacks Research cut NIO from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada downgraded shares of NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, NIO has an average rating of "Hold" and an average target price of $5.78.

NIO Stock Performance

The firm has a market cap of $7.21 billion, a P/E ratio of -10.76 and a beta of 0.89. 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 company's 50-day moving average is $3.46 and its two-hundred day moving average is $4.82.

NIO (NYSE:NIO - Get Free Report) last released its quarterly 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 during the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. As a group, equities analysts predict that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors have recently bought and sold shares of NIO. Renaissance Technologies LLC raised its position 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. Bank of America Corp DE boosted its holdings in NIO by 99.0% during the 1st 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 last quarter. Assenagon Asset Management S.A. purchased a new position in NIO during the 2nd quarter worth $19,008,000. Hsbc Holdings PLC boosted its holdings in 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 acquiring an additional 1,387,656 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of NIO by 39.7% in the 1st quarter. KBC Group NV now owns 583,722 shares of the company's stock worth $3,520,000 after acquiring an additional 165,741 shares in the last quarter. Institutional investors own 48.55% of the company's stock.

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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