NIO (NYSE:NIO) Stock Price Down 1.9% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) was down 1.9% during trading on Wednesday . The company traded as low as $3.77 and last traded at $3.80. Approximately 12,137,712 shares changed hands during trading, a decline of 78% from the average daily volume of 55,718,655 shares. The stock had previously closed at $3.87.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Mizuho reduced their price objective on NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Citigroup reduced their price objective on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have given 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 stock has a consensus rating of "Hold" and an average price target of $5.17.

NIO Stock Performance

The company has a market capitalization of $7.77 billion, a PE ratio of -2.46 and a beta of 1.81. The firm's 50-day simple moving average is $4.40 and its 200-day simple moving average is $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of NIO. FMR LLC increased its holdings in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after buying an additional 5,296,601 shares during the period. Quadrature Capital Ltd lifted 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. Bridgewater Associates LP boosted its position in NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares in the last quarter. SG Americas Securities LLC grew its stake in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Swedbank AB grew its stake in NIO by 0.8% in the fourth 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 last quarter. Institutional investors own 48.55% of the company's stock.

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.