NIO (NYSE:NIO) Trading Down 2.1%

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price dropped 2.1% during mid-day trading on Wednesday . The company traded as low as $6.82 and last traded at $6.88. Approximately 65,733,164 shares were traded during trading, an increase of 18% from the average daily volume of 55,602,359 shares. The stock had previously closed at $7.03.

Wall Street Analyst Weigh In

NIO has been the topic of several research reports. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Citigroup decreased their target price on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $5.93.

NIO Stock Up 2.6 %

The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $4.63 and a 200-day simple moving average of $4.69. The stock has a market cap of $12.40 billion, a P/E ratio of -4.27 and a beta of 1.82.

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, meeting the consensus estimate of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company's quarterly revenue was up 98.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. On average, equities research analysts forecast that Nio Inc - will post -1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of large investors have recently made changes to their positions in NIO. Point72 Asset Management L.P. boosted its holdings in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. Electron Capital Partners LLC increased its stake in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock worth $40,180,000 after acquiring an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company's stock valued at $10,950,000 after acquiring an additional 535,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company's stock valued at $10,430,000 after acquiring an additional 439,474 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company's stock worth $8,530,000 after purchasing an additional 744,067 shares in the last quarter. Institutional investors own 48.55% of the company's stock.

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.