NIO (NYSE:NIO) Trading Down 11.7% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) shares were down 11.7% on Friday . The stock traded as low as $3.20 and last traded at $3.30. Approximately 36,824,927 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 55,882,568 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NIO shares. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Citigroup dropped their price objective 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. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Cfra Research upgraded NIO to a "hold" rating in a research note on Friday, March 21st. Finally, Mizuho reduced their price objective on NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.17.

NIO Trading Down 7.6 %

The stock has a market cap of $6.48 billion, a P/E ratio of -2.06 and a beta of 1.74. The business's 50 day simple moving average is $4.31 and its 200 day simple moving average is $4.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Remove Ads

NIO (NYSE:NIO - Get Free Report) last announced 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 net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the firm earned ($2.81) EPS. NIO's quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts expect that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Hilltop Holdings Inc. bought a new position in shares of NIO in the third quarter valued at about $130,000. XTX Topco Ltd acquired a new position in NIO during the 3rd quarter worth about $1,178,000. Toronto Dominion Bank grew its holdings in NIO by 1,652,962.5% during 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. Finally, Sanctuary Advisors LLC increased its position in NIO by 63.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after acquiring an additional 32,069 shares in the last quarter. Institutional investors and hedge funds 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.