NIO (NYSE:NIO) Trading Down 1.9% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price fell 1.9% on Wednesday . The company traded as low as $4.25 and last traded at $4.31. 21,448,699 shares traded hands during trading, a decline of 61% from the average session volume of 55,108,348 shares. The stock had previously closed at $4.39.

Wall Street Analyst Weigh In

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

NIO Stock Performance

The stock has a market cap of $7.82 billion, a P/E ratio of -2.48 and a beta of 1.81. 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 company's 50-day simple moving average is $4.43 and its 200 day simple moving average is $4.84.

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NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 113.83% and a negative net margin of 33.41%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.81) EPS. As a group, sell-side analysts expect that Nio Inc - will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after acquiring an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in NIO in the fourth quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC bought a new position in NIO during the fourth quarter valued at $537,000. FMR LLC increased its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after buying an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of NIO in the third quarter valued at $1,327,000. 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.