NIO (NYSE:NIO) Shares Down 2.2%

Nio Inc – (NYSE:NIO) was down 2.2% on Thursday . The stock traded as low as $4.03 and last traded at $4.06. Approximately 8,059,489 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 55,199,297 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NIO shares. Bank of America decreased their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. The Goldman Sachs Group assumed coverage on NIO in a report on Wednesday, January 3rd. They issued a “neutral” rating for the company. Barclays reaffirmed an “underweight” rating and issued a $4.00 price target (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price target on shares of NIO in a report on Monday, March 25th. Finally, Macquarie assumed coverage on NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.43.

NIO Stock Performance

The firm has a 50 day simple moving average of $5.06 and a 200-day simple moving average of $6.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The company has a market cap of $7.09 billion, a price-to-earnings ratio of -2.36 and a beta of 1.93.

NIO (NYSE:NIO) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $18.16 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Nio Inc – will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently modified their holdings of NIO. AE Wealth Management LLC grew its stake in shares of NIO by 91.2% in the third quarter. AE Wealth Management LLC now owns 69,312 shares of the company’s stock valued at $627,000 after buying an additional 33,057 shares in the last quarter. DnB Asset Management AS boosted its holdings in NIO by 130.8% in the third quarter. DnB Asset Management AS now owns 153,192 shares of the company’s stock valued at $1,385,000 after purchasing an additional 86,814 shares during the period. Arkadios Wealth Advisors purchased a new position in NIO in the third quarter valued at $102,000. Meridian Wealth Management LLC boosted its holdings in NIO by 503.8% in the third quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock valued at $812,000 after purchasing an additional 74,968 shares during the period. Finally, Caprock Group LLC purchased a new position in NIO in the third quarter valued at $157,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.