NIO (NYSE:NIO) Stock Price Down 0.7% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report) was down 0.7% during trading on Tuesday . The stock traded as low as $3.56 and last traded at $3.59. Approximately 9,111,750 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 56,205,540 shares. The stock had previously closed at $3.61.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NIO. Citigroup decreased their price target on NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research report on Monday, March 24th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Mizuho dropped their price objective on NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.05.

NIO Trading Up 0.1 %

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average of $4.17 and a two-hundred day moving average of $4.57. The company has a market capitalization of $7.36 billion, a PE ratio of -2.33 and a beta of 1.74.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The business had revenue of $2.70 billion during 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%. NIO's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company posted ($2.81) EPS. As a group, 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

A number of large investors have recently bought and sold shares of NIO. Blue Trust Inc. raised its holdings in NIO by 138.5% during 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 boosted its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. bought a new stake in shares of NIO in the fourth quarter worth about $44,000. Callan Family Office LLC purchased a new position in NIO during the 4th quarter valued at about $44,000. Finally, Trilogy Capital Inc. bought a new position in NIO during the 4th 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.