NIO (NYSE:NIO) Stock Price Down 1.8% – What’s Next?

by · The Cerbat Gem

NIO Inc. (NYSE:NIO – Get Free Report) traded down 1.8% on Friday. The stock traded as low as $3.56 and last traded at $3.5650. Approximately 24,139,507 shares were traded during mid-day trading, a decline of 35% from the average session volume of 37,410,246 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NIO. The Goldman Sachs Group restated a “buy” rating and issued a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Royal Bank Of Canada downgraded NIO to a “sector perform” rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Freedom Broker cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.87.

Read Our Latest Research Report on NIO

NIO Stock Down 1.8%

The stock’s fifty day moving average is $4.29 and its two-hundred day moving average is $5.18. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The firm has a market cap of $8.85 billion, a P/E ratio of -13.20 and a beta of 0.92.

NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. The company had revenue of $4.73 billion for the quarter. As a group, research analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd purchased a new stake in shares of NIO in the 2nd quarter valued at $34,000. Merkkuri Wealth Advisors LLC bought a new position in shares of NIO during the first quarter valued at about $41,000. Global Retirement Partners LLC purchased a new position in shares of NIO in the second quarter worth about $34,000. Wellington Altus USA Inc. bought a new stake in shares of NIO in the 2nd quarter valued at about $35,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after acquiring an additional 4,383 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO’s vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.

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