NIO (NYSE:NIO) Trading Down 3.1%

Nio Inc – (NYSE:NIO) was down 3.1% on Monday . The company traded as low as $5.38 and last traded at $5.38. Approximately 10,450,318 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 52,141,254 shares. The stock had previously closed at $5.55.

Analysts Set New Price Targets

NIO has been the topic of several recent analyst reports. Bank of America increased their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.93.

NIO Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market cap of $8.65 billion, a PE ratio of -2.98 and a beta of 1.82. The firm’s fifty day moving average price is $4.39 and its 200 day moving average price is $4.69.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. As a group, equities analysts expect that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of NIO by 32.1% in 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 period. Mirae Asset Global Investments Co. Ltd. lifted its position in NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after buying an additional 439,474 shares in the last quarter. Electron Capital Partners LLC increased its position in NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after purchasing an additional 235,521 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of NIO by 127.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after buying an additional 211,936 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

About NIO

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.