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

Nio Inc - (NYSE:NIO - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.57 and last traded at $3.82, with a volume of 14254356 shares traded. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

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

NIO Stock Performance

The business has a fifty day moving average price of $4.40 and a 200-day moving average price of $4.80. The stock has a market capitalization of $7.82 billion, a P/E ratio of -2.48 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

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NIO (NYSE:NIO - Get Free Report) last posted 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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company posted ($2.81) EPS. NIO's revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts expect that Nio Inc - will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

Hedge funds have recently added to or reduced their stakes in the stock. Shufro Rose & Co. LLC purchased a new stake in NIO during the fourth quarter valued at $65,000. Vident Advisory LLC grew its stake in shares of NIO by 60.6% during the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company's stock valued at $235,000 after purchasing an additional 20,349 shares during the period. Vienna Asset Management LLC purchased a new stake in shares of NIO during the 4th quarter valued at about $100,000. Laird Norton Wetherby Trust Company LLC bought a new position in shares of NIO in the 4th quarter worth approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of NIO by 15.1% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company's stock worth $290,000 after buying an additional 8,746 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.