NIO Inc. (NYSE:NIO – Get Free Report)’s share price was down 1.2% during mid-day trading on Wednesday. The stock traded as low as $3.21 and last traded at $3.2410. 33,141,610 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 36,581,414 shares. The stock had previously closed at $3.28.
Analyst Ratings Changes
Several brokerages have recently issued reports on NIO. JPMorgan Chase & Co. reduced their target price on shares of NIO from $4.50 to $3.70 and set a “neutral” rating on the stock in a research note on Monday, October 26th. The Goldman Sachs Group restated a “buy” rating and issued a $6.10 price objective on shares of NIO in a report on Friday, September 4th. Freedom Broker cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Zacks Research lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, Citigroup reaffirmed a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, NIO currently has an average rating of “Hold” and an average price target of $5.78.
NIO Trading Down 1.2%
The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of -12.00 and a beta of 0.89. The business has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $4.84.
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The business had revenue of $4.73 billion for the quarter. As a group, equities analysts expect that NIO Inc. will post -0.13 earnings per share for the current year.
Institutional Investors Weigh In On NIO
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of NIO in the 3rd quarter valued at about $136,000. Optas LLC increased its stake in shares of NIO by 111.9% during the third quarter. Optas LLC now owns 28,173 shares of the company’s stock worth $97,000 after purchasing an additional 14,879 shares during the period. Fisher Asset Management LLC boosted its stake in NIO by 26.0% in the 3rd quarter. Fisher Asset Management LLC now owns 226,026 shares of the company’s stock valued at $775,000 after purchasing an additional 46,680 shares during the period. Russell Investments Group Ltd. increased its position in NIO by 3.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 192,055 shares of the company’s stock worth $658,000 after buying an additional 7,222 shares during the period. Finally, Lido Advisors LLC increased its position in NIO by 64.4% during the 3rd quarter. Lido Advisors LLC now owns 47,140 shares of the company’s stock worth $162,000 after buying an additional 18,471 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.
About NIO
NIO Inc. is a China-based electric vehicle company founded in 2014. The company designs, develops, and sells premium smart electric vehicles, including sedans and sport utility vehicles, primarily under the NIO brand. Alongside its vehicles, NIO offers battery-swapping and charging services, vehicle software and connectivity features, and related ownership services. Its battery-as-a-service offering allows customers to separate battery use from vehicle purchase. NIO serves customers in China and selected European markets.
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