NIO (NYSE:NIO) Shares Down 5.7% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price was down 5.7% during trading on Thursday . The company traded as low as $3.88 and last traded at $3.98. Approximately 89,867,073 shares were traded during trading, an increase of 62% from the average daily volume of 55,327,025 shares. The stock had previously closed at $4.22.

Analyst Upgrades and Downgrades

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

NIO Trading Down 5.9 %

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 has a 50 day simple moving average of $4.43 and a 200 day simple moving average of $4.83. The stock has a market capitalization of $7.82 billion, a PE ratio of -2.48 and a beta of 1.81.

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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 the consensus estimate of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.81) earnings per share. Analysts predict that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after acquiring an additional 3,607 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in NIO during the fourth quarter worth about $44,000. Sava Infond d.o.o. acquired a new position in NIO during the fourth quarter worth about $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO in the fourth quarter valued at about $45,000. 48.55% of the stock is currently 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.