NIO (NYSE:NIO) Stock Price Down 2.5% - What's Next?

Key Points

• NIO shares fell 2.5% to about $3.35, with trading volume slightly below its average. The stock remains below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans cautious: NIO has a consensus “Hold” rating and an average price target of $5.87, while JPMorgan cut its target to $4.50 and other firms maintained Buy ratings.
• NIO reported quarterly revenue of $4.73 billion and breakeven EPS, but continues to post weak profitability, including a negative net margin and return on equity. Institutional investors own approximately 48.55% of the company.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price traded down 2.5% during trading on Wednesday. The stock traded as low as $3.31 and last traded at $3.3450. Approximately 33,757,452 shares changed hands during trading, a decline of 9% from the average daily volume of 36,925,445 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

A number of brokerages have weighed in on NIO. Freedom Broker downgraded shares of 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 target for the stock from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Royal Bank Of Canada cut NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Citigroup restated a "buy" rating on shares of NIO in a research note on Tuesday, September 1st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $6.10 price objective on shares of NIO in a research report on Friday, September 4th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.87.

NIO Trading Down 2.5%

The stock has a market cap of $8.31 billion, a PE ratio of -12.39 and a beta of 0.92. The firm has a 50-day moving average price of $3.84 and a 200-day moving average price of $4.90. 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 announced its quarterly earnings data on Saturday, August 15th. The company reported $0.00 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%. As a group, equities analysts anticipate that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strengthening Families & Communities LLC increased its holdings in NIO by 143.5% in the 3rd quarter. Strengthening Families & Communities LLC now owns 8,171 shares of the company's stock worth $28,000 after buying an additional 4,815 shares in the last quarter. Global Retirement Partners LLC purchased a new position in NIO in the 2nd quarter worth about $34,000. Persistent Asset Partners Ltd purchased a new position in NIO in the 2nd quarter worth about $34,000. Wellington Altus USA Inc. purchased a new position in NIO in the 2nd quarter worth about $35,000. Finally, Annex Advisory Services LLC bought a new position in NIO during the 3rd quarter valued at about $40,000. Institutional investors own 48.55% of the company's stock.

NIO Company Profile

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.

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