NIO (NYSE:NIO) Reaches New 52-Week Low Following Analyst Downgrade

NIO Inc. (NYSE:NIO)’s share price reached a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $4.50 to $3.70. JPMorgan Chase & Co. currently has a neutral rating on the stock. NIO traded as low as $3.24 and last traded at $3.2450, with a volume of 12,861,245 shares. The stock had previously closed at $3.29.

NIO has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research report on Wednesday, July 29th. Freedom Broker lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Royal Bank Of Canada downgraded NIO to a “sector perform” rating in a report on Thursday, September 3rd. Finally, Sanford C. Bernstein reduced their price target on NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 2nd. Six research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.78.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. V Square Quantitative Management LLC lifted its holdings in shares of NIO by 17.4% in the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock worth $83,000 after acquiring an additional 2,027 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of NIO by 2.4% in the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock valued at $774,000 after purchasing an additional 3,537 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of NIO by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company’s stock valued at $2,493,000 after purchasing an additional 4,002 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after purchasing an additional 4,383 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in shares of NIO by 17.5% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 29,605 shares of the company’s stock valued at $150,000 after purchasing an additional 4,406 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

The stock’s 50-day moving average is $3.77 and its 200-day moving average is $4.84. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of -12.06 and a beta of 0.92. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11.

NIO (NYSE:NIO) last issued its quarterly earnings data on Saturday, August 15th. The company reported $0.00 EPS for the quarter. The business had revenue of $4.73 billion during the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. On average, analysts predict that NIO Inc. will post -0.13 EPS for the current fiscal year.

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.