NIO (NYSE:NIO) Stock Price Down 1.2% - What's Next?

Key Points

• NIO shares fell 1.2% to about $3.24 in mid-day trading, with volume roughly 9% below its average.
• Analyst views are mixed: six rate the stock Buy, seven Hold and two Sell; the consensus rating is Hold, with an average price target of $5.78.
• NIO reported quarterly revenue of $4.73 billion and $0.00 EPS; analysts expect a loss of $0.13 per share for the current year.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 1.2% during mid-day trading on Wednesday. The company traded as low as $3.21 and last traded at $3.2410. Approximately 33,141,610 shares changed hands during trading, a decline of 9% from the average daily volume of 36,581,414 shares. The stock had previously closed at $3.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of NIO in a research report on Tuesday, September 1st. Royal Bank Of Canada lowered shares of NIO to a "sector perform" rating in a research note on Thursday, September 3rd. Freedom Broker cut NIO from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. Weiss Ratings reiterated a "sell (e+)" rating on shares of NIO in a research report on Tuesday, October 27th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $6.10 price objective on shares of NIO in a report on Friday, September 4th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.78.

NIO Trading Down 1.2%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The stock has a market capitalization of $8.05 billion, a P/E ratio of -12.00 and a beta of 0.89. The business has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $4.84.

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

Hedge Funds Weigh In On NIO

Large investors have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC boosted its position in NIO by 4.4% in the third quarter. 180 Wealth Advisors LLC now owns 81,171 shares of the company's stock valued at $278,000 after buying an additional 3,387 shares in the last quarter. Engineers Gate Manager LP raised its position in NIO by 2.4% in the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company's stock worth $774,000 after purchasing an additional 3,537 shares during the last quarter. Van ECK Associates Corp raised its position in NIO by 0.8% in the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company's stock worth $2,493,000 after purchasing an additional 4,002 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company's stock worth $48,000 after buying an additional 4,383 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in NIO by 17.5% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 29,605 shares of the company's stock worth $150,000 after buying an additional 4,406 shares in the last quarter. Institutional investors and hedge funds 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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