NIO (NYSE:NIO) Shares Down 0.6%

Nio Inc – (NYSE:NIO)’s share price traded down 0.6% on Thursday . The stock traded as low as $4.97 and last traded at $4.99. 28,529,387 shares traded hands during trading, a decline of 45% from the average session volume of 52,174,500 shares. The stock had previously closed at $5.02.

Analyst Ratings Changes

Several brokerages have recently commented on NIO. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research began coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. One equities 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.93.

NIO Trading Down 2.2 %

The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of -3.12 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The company’s 50 day moving average is $4.42 and its 200 day moving average is $4.69.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter in the prior year, the company posted ($0.51) EPS. The business’s revenue was up 98.9% on a year-over-year basis. On average, research analysts forecast that Nio Inc – will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. Electron Capital Partners LLC grew its holdings in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after acquiring an additional 535,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after acquiring an additional 439,474 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.