NIO (NYSE:NIO) Shares Down 1.4% Following Analyst Downgrade

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price fell 1.4% on Thursday after Mizuho lowered their price target on the stock from $4.20 to $3.50. Mizuho currently has a neutral rating on the stock. NIO traded as low as $3.27 and last traded at $3.27. 15,661,584 shares traded hands during trading, a decline of 72% from the average session volume of 56,123,727 shares. The stock had previously closed at $3.31.

NIO has been the topic of a number of other research reports. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup reduced their price objective on shares of NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.05.

Institutional Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in NIO. Bridgewater Associates LP increased its position in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares during the last quarter. SG Americas Securities LLC boosted its stake in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after buying an additional 589,082 shares in the last quarter. Swedbank AB grew its position in NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after acquiring an additional 9,000 shares during the last quarter. SIH Partners LLLP raised its stake in shares of NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of NIO in the 4th quarter worth approximately $3,305,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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NIO Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock's 50 day moving average price is $4.23 and its 200-day moving average price is $4.67. The company has a market cap of $7.51 billion, a PE ratio of -2.38 and a beta of 1.74.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly 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 net margin of 33.41% and a negative return on equity of 113.83%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.81) earnings per share. On average, analysts predict that Nio Inc - will post -1.43 earnings per share for the current year.

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.