NIO (NYSE:NIO) Trading Down 2.6%

Nio Inc – (NYSE:NIO) shares traded down 2.6% during mid-day trading on Friday . The company traded as low as $5.24 and last traded at $5.26. 25,429,986 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 52,361,699 shares. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NIO shares. JPMorgan Chase & Co. raised 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. Wolfe Research started coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.93.

NIO Stock Performance

The stock’s 50 day simple moving average is $4.41 and its two-hundred day simple moving average is $4.69. The company has a market cap of $8.99 billion, a PE ratio of -3.11 and a beta of 1.82. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new position in NIO during the 2nd quarter worth $25,000. Principal Securities Inc. acquired a new position in NIO in the fourth quarter worth about $42,000. Sound Income Strategies LLC increased its holdings in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in NIO during the first quarter valued at approximately $51,000. Finally, Baader Bank Aktiengesellschaft bought a new position in NIO during the 2nd quarter worth approximately $53,000. Hedge funds and other 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.