NIO (NYSE:NIO) Shares Gap Down - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.62, but opened at $3.45. NIO shares last traded at $3.52, with a volume of 6,900,684 shares trading hands.

Analysts Set New Price Targets

NIO has been the subject of a number of research reports. Cfra Research upgraded NIO to a "hold" rating in a report on Friday, March 21st. Citigroup cut their target price on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho cut their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, NIO currently has a consensus rating of "Hold" and a consensus price target of $5.05.

NIO Stock Up 0.1 %

The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of -2.33 and a beta of 1.74. The firm's 50 day moving average price is $4.18 and its two-hundred day moving average price is $4.61. 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 data 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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company earned ($2.81) EPS. NIO's quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts anticipate that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several large investors have recently modified their holdings of NIO. SG Americas Securities LLC grew its stake in NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after buying an additional 958,750 shares during the last quarter. Bridgewater Associates LP lifted its holdings in NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares during the last quarter. Swedbank AB boosted its stake in NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after purchasing an additional 9,000 shares during the period. SIH Partners LLLP grew its holdings in NIO by 23.1% in the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after buying an additional 175,000 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in NIO during the 4th quarter worth $3,305,000. 48.55% of the stock is owned by institutional investors.

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.