NIO (NYSE:NIO) Shares Down 11.7% – What’s Next?

by · The Markets Daily

Shares of Nio Inc – (NYSE:NIO – Get Free Report) dropped 11.7% during mid-day trading on Friday . The stock traded as low as $3.20 and last traded at $3.30. Approximately 36,824,927 shares traded hands during trading, a decline of 34% from the average daily volume of 55,882,568 shares. The stock had previously closed at $3.74.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup reduced their target price on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Cfra Research raised NIO to a “hold” rating in a research report on Friday, March 21st. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.17.

View Our Latest Research Report on NIO

NIO Price Performance

The business has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $4.79. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of -2.29 and a beta of 1.74.

NIO (NYSE:NIO – Get Free Report) last issued its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm earned ($2.81) earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. As a group, research analysts predict that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds have recently modified their holdings of the business. Shufro Rose & Co. LLC acquired a new stake in NIO during the 4th quarter worth about $65,000. Vident Advisory LLC boosted its stake in shares of NIO by 60.6% during the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after buying an additional 20,349 shares during the period. Vienna Asset Management LLC purchased a new position in shares of NIO during the 4th quarter valued at $100,000. Laird Norton Wetherby Trust Company LLC acquired a new position in shares of NIO in the fourth quarter worth $93,000. Finally, Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after acquiring an additional 8,746 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.

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