NIO (NYSE:NIO) Shares Down 5.8% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 5.8% during trading on Tuesday . The company traded as low as $4.32 and last traded at $4.40. Approximately 35,517,623 shares traded hands during trading, a decline of 37% from the average daily volume of 56,757,121 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and decreased their target price for the company from $4.80 to $3.90 in a research report on Monday. Citigroup lowered their target price on shares of NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. Finally, Daiwa America raised NIO to a "strong-buy" rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NIO currently has an average rating of "Hold" and an average price target of $5.71.

NIO Price Performance

The firm has a market cap of $7.50 billion, a PE ratio of -2.91 and a beta of 1.91. The company has a 50 day moving average price of $5.48 and a 200 day moving average price of $4.89. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business's revenue was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) EPS. On average, sell-side analysts expect that Nio Inc - will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NIO. Point72 Asset Management L.P. lifted its position in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock valued at $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. FMR LLC lifted its holdings in NIO by 5,388.5% in 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. Quadrature Capital Ltd boosted its stake in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after purchasing an additional 538,907 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock worth $6,401,000 after buying an additional 370,556 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company's stock valued at $5,894,000 after buying an additional 343,910 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.

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