NIO (NYSE:NIO) Shares Down 6.4%

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price fell 6.4% on Monday . The company traded as low as $4.53 and last traded at $4.56. 26,263,412 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 54,186,359 shares. The stock had previously closed at $4.87.

Analysts Set New Price Targets

A number of research firms recently issued reports on NIO. Citigroup reduced their price target on shares of NIO from $10.40 to $8.50 and set a "buy" rating on the stock in a research report on Thursday, June 6th. Mizuho reiterated a "neutral" rating and set a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Macquarie started coverage on shares of NIO in a report on Monday, April 15th. They issued a "neutral" rating and a $5.00 price target for the company. JPMorgan Chase & Co. raised NIO from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Finally, Bank of America lifted their target price on NIO from $5.90 to $6.00 and gave the company a "neutral" rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.55.

NIO Trading Down 4.8 %

The business has a 50 day moving average of $4.86 and a 200 day moving average of $5.40. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -2.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. lifted its holdings in shares of NIO by 9.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company's stock valued at $182,000 after purchasing an additional 1,816 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of NIO by 2.5% in the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company's stock valued at $371,000 after acquiring an additional 2,000 shares during the last quarter. Fountainhead AM LLC grew its stake in NIO by 20.0% in the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company's stock valued at $109,000 after purchasing an additional 2,012 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company's stock worth $75,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of NIO by 11.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company's stock worth $181,000 after purchasing an additional 2,092 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

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.