NIO (NYSE:NIO) Shares Down 1.8% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) traded down 1.8% during trading on Monday . The stock traded as low as $6.61 and last traded at $6.65. 31,331,764 shares traded hands during trading, a decline of 44% from the average session volume of 56,253,762 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NIO. Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a research report on Monday, September 30th. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Wolfe Research assumed coverage on shares of NIO in a report on Thursday, September 5th. They issued a "peer perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.93.

NIO Trading Up 0.3 %

The firm has a 50-day moving average price of $4.83 and a 200-day moving average price of $4.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a market cap of $11.67 billion, a PE ratio of -4.02 and a beta of 1.86.

NIO (NYSE:NIO - Get Free Report) last posted 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 firm had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the previous year, the firm earned ($0.51) EPS. NIO's quarterly revenue was up 98.9% compared to the same quarter last year. As a group, equities analysts anticipate that Nio Inc - will post -1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its stake in shares of NIO by 164.3% during 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. Quadrature Capital Ltd purchased a new position in shares of NIO during the 4th quarter valued at about $12,361,000. Swedbank AB purchased a new position in shares of NIO during the 1st quarter valued at about $5,343,000. AMF Tjanstepension AB lifted its position in shares of NIO by 132.4% during the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company's stock valued at $7,030,000 after buying an additional 889,900 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position 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 valued at $8,530,000 after buying an additional 744,067 shares in the last quarter. 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.