NIO (NYSE:NIO) Shares Down 0.4% After Analyst Downgrade

Nio Inc – (NYSE:NIOGet Free Report) traded down 0.4% during trading on Wednesday after Bank of America lowered their price target on the stock from $6.50 to $5.90. Bank of America currently has a neutral rating on the stock. NIO traded as low as $4.81 and last traded at $4.88. 18,401,833 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 56,952,957 shares. The stock had previously closed at $4.90.

A number of other brokerages have also issued reports on NIO. Barclays reaffirmed an “underweight” rating and set a $4.00 target price (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Sanford C. Bernstein lowered their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Macquarie started coverage on NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price for the company. UBS Group decreased their target price on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and upped their price target for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average target price of $8.43.

Read Our Latest Research Report on NIO

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its position in NIO by 238.6% in the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC bought a new stake in shares of NIO during the 3rd quarter worth about $37,918,000. Quadrature Capital Ltd acquired a new position in shares of NIO during the 4th quarter valued at about $12,361,000. Swedbank AB acquired a new position in shares of NIO during the 1st quarter valued at about $5,343,000. Finally, Norges Bank bought a new position in shares of NIO in the 4th quarter valued at approximately $9,652,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Stock Down 0.2 %

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $6.12. The stock has a market cap of $8.41 billion, a P/E ratio of -2.79 and a beta of 1.92.

NIO (NYSE:NIOGet Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. NIO’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. Analysts expect that Nio Inc – will post -1.26 EPS for the current year.

NIO Company Profile

(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.

Further Reading

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