NIO (NYSE:NIO) Trading Down 0.5% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 0.5% on Wednesday . The company traded as low as $3.04 and last traded at $3.13. 22,191,335 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 56,146,705 shares. The stock had previously closed at $3.14.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NIO shares. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Mizuho dropped their price target on NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a report on Thursday. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $5.05.

NIO Trading Up 2.3 %

The firm's fifty day simple moving average is $4.23 and its 200 day simple moving average is $4.67. The stock has a market capitalization of $7.51 billion, a P/E ratio of -2.38 and a beta of 1.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its holdings in shares of NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after buying an additional 132,237 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock worth $553,000 after purchasing an additional 32,069 shares in the last quarter. Tidal Investments LLC raised its position in NIO by 2.4% in the third quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock valued at $1,871,000 after purchasing an additional 6,545 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO during the third quarter valued at about $374,000. Finally, Principal Financial Group Inc. grew its holdings in shares of NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock worth $502,000 after purchasing an additional 43,839 shares during the last quarter. 48.55% of the stock is owned by 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.