NIO (NYSE:NIO) Shares Down 7.5% - What's Next?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) traded down 7.5% during mid-day trading on Tuesday . The company traded as low as $6.11 and last traded at $6.28. 41,163,250 shares were traded during mid-day trading, a decline of 27% from the average session volume of 56,418,621 shares. The stock had previously closed at $6.79.

Wall Street Analyst Weigh In

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

NIO Trading Down 8.0 %

The business has a 50-day moving average of $4.83 and a 200-day moving average of $4.74. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of -3.72 and a beta of 1.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the company earned ($0.51) earnings per share. The company's revenue was up 98.9% compared to the same quarter last year. As a group, research analysts forecast that Nio Inc - will post -1.37 EPS for the current year.

Hedge Funds Weigh In On NIO

Several institutional investors have recently added to or reduced their stakes in NIO. Ridgewood Investments LLC purchased a new position in NIO during the 2nd quarter worth $25,000. Sound Income Strategies LLC boosted its stake in shares of NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company's stock valued at $46,000 after buying an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in NIO during the first quarter worth $51,000. Baader Bank Aktiengesellschaft purchased a new position in NIO in the second quarter worth $53,000. Finally, Edge Wealth Management LLC acquired a new stake in NIO in the first quarter valued at $54,000. 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.