Nio Inc – (NYSE:NIO – Get Free Report)’s stock price dropped 6.1% on Thursday . The stock traded as low as $4.16 and last traded at $4.17. Approximately 32,151,981 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 52,912,273 shares. The stock had previously closed at $4.44.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Macquarie started coverage on NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, Citigroup dropped their price target on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.55.
NIO Trading Down 8.6 %
The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -2.37 and a beta of 1.86. The business has a fifty day simple moving average of $4.64 and a 200 day simple moving average of $5.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.
NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. As a group, equities analysts anticipate that Nio Inc – will post -1.41 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in shares of NIO during the 2nd quarter valued at $25,000. Bfsg LLC purchased a new stake in NIO during the fourth quarter worth approximately $33,000. Rakuten Securities Inc. acquired a new stake in shares of NIO in the fourth quarter worth $38,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of NIO by 272.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after acquiring an additional 6,875 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in NIO during the 4th quarter worth $42,000. 48.55% of the stock is currently 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.