NIO (NYSE:NIO) Trading Down 5.8% – What’s Next?

by · The Markets Daily

Shares of Nio Inc – (NYSE:NIO – Get Free Report) traded down 5.8% on Tuesday . The stock traded as low as $4.32 and last traded at $4.40. 35,517,623 shares were traded during trading, a decline of 37% from the average session volume of 56,757,121 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research note on Monday. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $5.71.

View Our Latest Stock Report on NIO

NIO Stock Down 6.6 %

The firm has a market capitalization of $7.50 billion, a P/E ratio of -2.91 and a beta of 1.91. The stock has a fifty day moving average price of $5.48 and a two-hundred day moving average price of $4.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO – Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period last year, the business posted ($0.51) earnings per share. Research analysts forecast that Nio Inc – will post -1.39 EPS for the current year.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in NIO in the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in NIO during the 3rd quarter worth $32,000. Baader Bank Aktiengesellschaft bought a new position in shares of NIO in the second quarter worth $53,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the period. Finally, Caprock Group LLC acquired a new position in NIO during the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

(Get Free Report)

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.

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