NIO (NYSE:NIO) Stock Price Down 3.7% - Here's Why

Key Points

• NIO shares fell 3.7% in Tuesday’s midday trading, reaching $3.23 at their low and trading near $3.29; volume was about 2% above average.
• Analyst views are mixed, with six Buy, seven Hold, and two Sell ratings. MarketBeat reports a consensus Hold rating and an average price target of $5.78.
• NIO reported quarterly revenue of $4.73 billion and earnings per share of $0.00; analysts forecast a loss of $0.13 per share for the current fiscal year.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price traded down 3.7% during mid-day trading on Tuesday. The stock traded as low as $3.23 and last traded at $3.2850. Approximately 37,292,630 shares were traded during mid-day trading, an increase of 2% from the average session volume of 36,578,160 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

NIO has been the topic of a number of recent analyst reports. Citigroup reissued a "buy" rating on shares of NIO in a research report on Tuesday, September 1st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a research report on Tuesday, October 27th. Zacks Research cut NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. reduced their target price on NIO from $4.50 to $3.70 and set a "neutral" rating for the company in a research note on Monday, October 26th. Finally, Sanford C. Bernstein decreased their target price on NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $5.78.

NIO Price Performance

The company's 50-day simple moving average is $3.51 and its 200-day simple moving average is $4.85. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of -12.17 and a beta of 0.89.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. The company had revenue of $4.73 billion for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. Research analysts forecast that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of the business. 180 Wealth Advisors LLC lifted its stake in shares of 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 grew its holdings in shares of NIO by 2.4% during the second quarter. Engineers Gate Manager LP now owns 152,990 shares of the company's stock valued at $774,000 after buying an additional 3,537 shares during the last quarter. Van ECK Associates Corp increased its position in shares of NIO by 0.8% during the second quarter. Van ECK Associates Corp now owns 492,784 shares of the company's stock worth $2,493,000 after acquiring an additional 4,002 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in NIO by 120.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company's stock valued at $48,000 after acquiring an additional 4,383 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased 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 purchasing an additional 4,406 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

About NIO

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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