NIO (NYSE:NIO) Shares Gap Down - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $4.22, but opened at $3.90. NIO shares last traded at $3.99, with a volume of 70,831,958 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Mizuho dropped their price target on shares of NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Hsbc Global Res downgraded shares of NIO from a "strong-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 cut their target price for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.00.

NIO Trading Up 1.7 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.96 billion, a P/E ratio of -2.53 and a beta of 1.81. The firm's 50-day moving average price is $4.43 and its 200 day moving average price is $4.83.

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

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of NIO. Blue Trust Inc. lifted its position in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after buying an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of NIO in the 4th quarter worth approximately $44,000. Sava Infond d.o.o. purchased a new position in shares of NIO in the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. bought a new position in shares of NIO in the fourth quarter valued at approximately $45,000. 48.55% of the stock is 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.