NIO (NYSE:NIO) Trading Down 4.7%

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 4.7% during mid-day trading on Thursday . The stock traded as low as $4.41 and last traded at $4.42. 12,522,685 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 54,627,473 shares. The stock had previously closed at $4.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NIO shares. Jefferies Financial Group reduced their target price on shares of NIO from $8.30 to $5.90 and set a "hold" rating for the company in a research report on Wednesday, March 6th. Macquarie initiated coverage on shares of NIO in a research report on Monday, April 15th. They set a "neutral" rating and a $5.00 price target on the stock. UBS Group reduced their price target on shares of NIO from $8.00 to $7.20 and set a "neutral" rating on the stock in a research report on Thursday, March 14th. Barclays reaffirmed an "underweight" rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Finally, Citigroup reduced their target price on shares of NIO from $10.40 to $8.50 and set a "buy" rating on the stock in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.55.

NIO Stock Performance

The firm has a market capitalization of $7.56 billion, a PE ratio of -2.60 and a beta of 1.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The company's fifty day moving average price is $4.85 and its two-hundred day moving average price is $5.72.

NIO (NYSE:NIO - Get Free Report) last posted its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities analysts expect that Nio Inc - will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently added to or reduced their stakes in NIO. PNC Financial Services Group Inc. grew its holdings in NIO by 7.8% during the third quarter. PNC Financial Services Group Inc. now owns 31,177 shares of the company's stock worth $282,000 after acquiring an additional 2,248 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of NIO during the 3rd quarter valued at about $146,000. Mariner LLC lifted its holdings in NIO by 11.4% in the 3rd quarter. Mariner LLC now owns 82,747 shares of the company's stock worth $748,000 after purchasing an additional 8,439 shares during the last quarter. Federated Hermes Inc. acquired a new stake in NIO in the 3rd quarter worth approximately $461,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in NIO in the 3rd quarter worth approximately $2,899,000. 48.55% of the stock is currently owned by 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.