NIO (NYSE:NIO) Reaches New 12-Month Low – Here’s Why

Nio Inc – (NYSE:NIO) reached a new 52-week low during trading on Tuesday . The stock traded as low as $3.18 and last traded at $3.36, with a volume of 73675901 shares trading hands. The stock had previously closed at $3.46.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Cfra Research raised NIO to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup reduced their target price on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Mizuho dropped their price target on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average price target of $5.17.

NIO Stock Performance

The stock has a market capitalization of $6.90 billion, a PE ratio of -2.19 and a beta of 1.74. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $4.27 and a 200-day moving average price of $4.71.

NIO (NYSE:NIO) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the business earned ($2.81) earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts expect that Nio Inc – will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Shufro Rose & Co. LLC purchased a new position in NIO during the fourth quarter valued at approximately $65,000. Vident Advisory LLC raised its position in NIO by 60.6% during the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after acquiring an additional 20,349 shares in the last quarter. Vienna Asset Management LLC purchased a new position in NIO during the fourth quarter valued at approximately $100,000. Laird Norton Wetherby Trust Company LLC purchased a new position in NIO during the fourth quarter valued at approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after acquiring an additional 8,746 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.