NIO (NYSE:NIO) Stock Price Down 3.9% - Here's Why

Shares of Nio Inc - (NYSE:NIO - Get Free Report) dropped 3.9% during mid-day trading on Friday . The stock traded as low as $3.81 and last traded at $3.83. Approximately 30,211,948 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 55,370,170 shares. The stock had previously closed at $3.98.

Analysts Set New Price Targets

A number of research firms have recently commented on NIO. Cfra Research raised NIO to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup dropped their price objective on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a report on Monday, March 24th. Mizuho reduced their target price on shares of NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.00.

NIO Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $4.81. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of -2.49 and a beta of 1.81.

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). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the company earned ($2.81) earnings per share. The business's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Nio Inc - will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp raised its position 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 position in shares of NIO in the 4th quarter worth $44,000. Callan Family Office LLC acquired a new stake in NIO in the 4th quarter valued at $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO during the 4th quarter valued at $45,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.