Shares of Nio Inc - (NYSE:NIO - Get Free Report) were down 3.9% during trading on Friday . The company traded as low as $3.81 and last traded at $3.83. Approximately 30,211,948 shares were traded 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 issued reports on NIO. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Citigroup dropped their target price on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a report on Monday, March 24th. Cfra Research upgraded NIO to a "hold" rating in a report on Friday, March 21st. Mizuho dropped their price objective on shares of NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $5.00.
Get Our Latest Analysis on NIO
NIO Price Performance
The company has a market cap of $7.96 billion, a price-to-earnings ratio of -2.53 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 $4.83. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.
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 the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the company posted ($2.81) earnings per share. The business's revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that Nio Inc - will post -1.43 EPS for the current fiscal year.
Institutional Investors Weigh In On NIO
Several institutional investors and hedge funds have recently modified their holdings of NIO. PDS Planning Inc boosted its holdings in NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after purchasing an additional 2,712 shares during the period. Franklin Resources Inc. boosted its stake in shares of NIO by 20.4% in the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares during the period. Perigon Wealth Management LLC increased its stake in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock worth $94,000 after buying an additional 3,152 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.
NIO Company Profile
(
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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.
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