NIO (NYSE:NIO) Hits New 12-Month Low - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $3.18 and last traded at $3.36, with a volume of 73675901 shares traded. The stock had previously closed at $3.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NIO shares. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Mizuho cut their price target on NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a report on Thursday. HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and cut their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Citigroup lowered their price target on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NIO has a consensus rating of "Hold" and a consensus price target of $5.05.

NIO Trading Up 6.6 %

The company's fifty day moving average price is $4.23 and its 200-day moving average price is $4.67. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of -2.32 and a beta of 1.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of NIO. Blue Trust Inc. raised its position in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after acquiring an additional 4,332 shares during the last quarter. Callan Family Office LLC purchased a new position in shares of NIO in the fourth quarter valued at approximately $44,000. Sava Infond d.o.o. acquired a new stake in shares of NIO in the fourth quarter worth approximately $44,000. Finally, Trilogy Capital Inc. purchased a new stake in shares of NIO during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.