NIO (NYSE:NIO) Stock Price Down 1.5% – Here’s Why

Shares of NIO Inc. (NYSE:NIO) dropped 1.5% during mid-day trading on Wednesday. The company traded as low as $3.66 and last traded at $3.6650. 23,105,886 shares were traded during mid-day trading, a decline of 38% from the average session volume of 37,514,445 shares. The stock had previously closed at $3.72.

Wall Street Analyst Weigh In

NIO has been the subject of several recent research reports. Royal Bank Of Canada lowered shares of NIO to a “sector perform” rating in a research report on Thursday, September 3rd. Freedom Broker lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $4.50 in a research report on Wednesday, September 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $6.10 price target on shares of NIO in a research note on Friday, September 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of NIO in a report on Tuesday, September 1st. 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, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.87.

NIO Trading Down 1.8%

The business’s 50 day moving average is $4.29 and its two-hundred day moving average is $5.18. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $8.85 billion, a P/E ratio of -13.20 and a beta of 0.92.

NIO (NYSE:NIO) last announced its earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (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 during the quarter. Analysts expect that NIO Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new stake in shares of NIO in the 2nd quarter worth $34,000. Global Retirement Partners LLC acquired a new position in NIO during the second quarter worth about $34,000. Wellington Altus USA Inc. acquired a new position in NIO during the second quarter worth about $35,000. Eurizon Capital SGR S.p.A. bought a new stake in NIO in the fourth quarter worth about $41,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in NIO in the first quarter worth about $41,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO’s vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.