NIO (NYSE:NIO) Shares Down 6.9% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares fell 6.9% on Thursday . The company traded as low as $6.71 and last traded at $6.71. 41,825,818 shares traded hands during trading, a decline of 25% from the average session volume of 55,851,578 shares. The stock had previously closed at $7.21.

Analysts Set New Price Targets

NIO has been the subject of a number of recent analyst reports. Citigroup reduced their price objective 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. Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and raised their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.93.

NIO Stock Performance

The firm has a market capitalization of $11.54 billion, a PE ratio of -3.97 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company's fifty day simple moving average is $4.69 and its 200 day simple moving average is $4.71.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period last year, the firm earned ($0.51) EPS. NIO's revenue for the quarter was up 98.9% on a year-over-year basis. As a group, equities research analysts expect that Nio Inc - will post -1.37 EPS for the current fiscal year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company's stock valued at $5,894,000 after buying an additional 343,910 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $10,430,000 after acquiring an additional 439,474 shares during the period. Electron Capital Partners LLC lifted its stake in NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock worth $40,180,000 after purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in NIO by 127.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company's stock valued at $1,704,000 after purchasing an additional 211,936 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted 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 purchasing an additional 535,400 shares during the period. 48.55% of the stock is currently owned by institutional investors.

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.