NIO (NYSE:NIO) Stock Price Down 6.9% - Here's Why

Shares of Nio Inc - (NYSE:NIO - Get Free Report) were down 6.9% during mid-day trading on Thursday . The company traded as low as $4.83 and last traded at $4.82. Approximately 22,705,822 shares were traded during trading, a decline of 59% from the average daily volume of 54,929,676 shares. The stock had previously closed at $5.17.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NIO shares. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. cut shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, NIO has a consensus rating of "Hold" and an average price target of $5.03.

NIO Stock Performance

The business has a fifty day moving average price of $4.43 and a 200-day moving average price of $4.87. The stock has a market capitalization of $9.40 billion, a P/E ratio of -2.98 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

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NIO (NYSE:NIO - Get Free Report) last announced its earnings results 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). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $20.19 billion. During the same period in the previous year, the business posted ($2.81) earnings per share. The company's revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts expect that Nio Inc - will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NIO. Blue Trust Inc. raised its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp raised 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 worth $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC purchased a new position in shares of NIO during the 4th quarter valued at about $44,000. Sava Infond d.o.o. bought a new position in shares of NIO during the 4th quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. purchased a new stake in NIO in the 4th quarter worth approximately $45,000. Hedge funds and other 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.