Nio Inc - (NYSE:NIO) Sees Significant Drop in Short Interest

Nio Inc - (NYSE:NIO - Get Free Report) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 180,540,000 shares, a decline of 15.8% from the February 28th total of 214,300,000 shares. Based on an average trading volume of 52,590,000 shares, the short-interest ratio is currently 3.4 days. Approximately 8.7% of the shares of the stock are short sold.

NIO Price Performance

Shares of NYSE NIO traded down $0.07 during trading hours on Thursday, reaching $3.74. 26,409,473 shares of the stock traded hands, compared to its average volume of 55,803,947. The company has a market capitalization of $7.80 billion, a P/E ratio of -2.47 and a beta of 1.81. The company's 50-day simple moving average is $4.40 and its two-hundred day simple moving average is $4.80. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. NIO has a 52-week low of $3.57 and a 52-week high of $7.71.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $20.19 billion. During the same period last year, the business posted ($2.81) earnings per share. The company's revenue was up 15.2% compared to the same quarter last year. Equities research analysts forecast that NIO will post -1.43 EPS for the current year.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after acquiring an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of NIO in the fourth quarter worth about $1,360,000. AlphaStar Capital Management LLC purchased a new position in NIO during the 4th quarter valued at about $537,000. FMR LLC lifted its holdings in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after buying an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new position in shares of NIO during the third quarter valued at approximately $1,327,000. Institutional investors own 48.55% of the company's stock.

Analyst Upgrades and Downgrades

NIO has been the topic of several recent analyst reports. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Mizuho lowered their price objective on NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Citigroup reduced their target price on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research report on Monday, March 24th. HSBC cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.17.

NIO Company Profile

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.