NIO (NYSE:NIO) Shares Down 1.4% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price traded down 1.4% during mid-day trading on Monday . The company traded as low as $4.64 and last traded at $4.77. 23,878,189 shares traded hands during trading, a decline of 58% from the average session volume of 56,746,316 shares. The stock had previously closed at $4.84.

Analysts Set New Price Targets

Several research firms recently commented on NIO. Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $5.71.

NIO Trading Up 1.6 %

The business has a 50 day simple moving average of $5.45 and a two-hundred day simple moving average of $4.89. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of -2.91 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. The business’s revenue was up 98.9% compared to the same quarter last year. As a group, equities analysts anticipate that Nio Inc – will post -1.39 EPS for the current year.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in NIO during the 2nd quarter worth approximately $1,076,000. International Assets Investment Management LLC lifted its stake in NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after purchasing an additional 334,723 shares during the last quarter. Signaturefd LLC boosted its holdings in NIO by 16.9% in the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after purchasing an additional 7,014 shares during the period. Bank of New York Mellon Corp increased its stake in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after purchasing an additional 343,910 shares during the last quarter. Finally, SIH Partners LLLP raised its holdings in shares of NIO by 104.0% during the second quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after purchasing an additional 338,320 shares during the period. 48.55% of the stock is owned by 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.