NIO (NYSE:NIO) Trading Down 4.6%

Shares of Nio Inc – (NYSE:NIO) were down 4.6% during mid-day trading on Wednesday . The company traded as low as $5.14 and last traded at $5.16. Approximately 15,107,345 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 52,028,406 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NIO shares. Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. 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. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.93.

NIO Stock Performance

The company has a 50-day moving average of $4.39 and a 200-day moving average of $4.69. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of -3.00 and a beta of 1.82. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last posted 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 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. The company’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period last year, the firm posted ($0.51) EPS. On average, equities research analysts forecast that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. Bank of New York Mellon Corp increased its position in 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 worth $5,894,000 after buying an additional 343,910 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares during the last quarter. Electron Capital Partners LLC boosted its stake in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after purchasing an additional 235,521 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of NIO by 127.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after purchasing an additional 211,936 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after buying an additional 535,400 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.