NIO (NYSE:NIO) Stock Price Down 3.1%

Shares of Nio Inc - (NYSE:NIO - Get Free Report) fell 3.1% during trading on Monday . The company traded as low as $5.38 and last traded at $5.38. 10,450,318 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 52,141,254 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NIO. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a "peer perform" rating on the stock. Bank of America raised their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Finally, Citigroup cut their target price on shares of NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, NIO has an average rating of "Hold" and an average price target of $5.93.

NIO Stock Down 2.6 %

The stock has a market cap of $9.29 billion, a P/E ratio of -3.20 and a beta of 1.82. The stock's fifty day simple moving average is $4.35 and its 200-day simple moving average is $4.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter last year, the business posted ($0.51) EPS. The business's revenue was up 98.9% on a year-over-year basis. On average, research analysts anticipate that Nio Inc - will post -1.41 earnings per share for the current year.

Institutional Trading of NIO

Large investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in NIO by 2.5% during the 1st 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 in the last quarter. Westwood Holdings Group Inc. lifted its holdings in NIO by 13.9% in the first 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 period. Avantax Advisory Services Inc. grew its position in NIO by 11.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company's stock valued at $181,000 after buying an additional 2,092 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock valued at $61,000 after buying an additional 2,651 shares during the period. Finally, Cantor Fitzgerald L. P. raised its position in shares of NIO by 23.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company's stock worth $132,000 after buying an additional 2,719 shares in the last quarter. Institutional investors and hedge funds 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.