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

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.17, but opened at $4.98. NIO shares last traded at $4.89, with a volume of 12,706,492 shares traded.

Analyst Ratings Changes

NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NIO currently has a consensus rating of "Hold" and an average price target of $5.03.

NIO Stock Performance

The stock has a market capitalization of $9.40 billion, a P/E ratio of -2.98 and a beta of 1.81. The stock's 50-day simple moving average is $4.43 and its 200 day simple moving average is $4.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company's revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business earned ($2.81) earnings per share. Research analysts expect that Nio Inc - will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

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