NIO (NYSE:NIO) Shares Down 2.5% – What’s Next?

by · The Markets Daily

NIO Inc. (NYSE:NIO – Get Free Report) shares dropped 2.5% on Wednesday. The stock traded as low as $3.31 and last traded at $3.3450. 33,757,452 shares changed hands during trading, a decline of 9% from the average session volume of 36,925,445 shares. The stock had previously closed at $3.43.

Analyst Ratings Changes

NIO has been the topic of several research reports. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $4.50 in a report on Wednesday, September 2nd. Sanford C. Bernstein cut their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $6.10 target price on shares of NIO in a research note on Friday, September 4th. Zacks Research cut NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, Citigroup reissued a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and an average price target of $5.87.

View Our Latest Research Report on NIO

NIO Stock Down 2.5%

The stock has a market cap of $8.31 billion, a PE ratio of -12.39 and a beta of 0.92. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The company’s 50-day moving average price is $3.84 and its 200 day moving average price is $4.90.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares during the last quarter. Renaissance Technologies LLC raised its holdings in NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after purchasing an additional 5,962,731 shares during the period. Assenagon Asset Management S.A. bought a new position in NIO in the 2nd quarter worth $19,008,000. SG Americas Securities LLC raised its holdings in NIO by 67.2% in the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after purchasing an additional 2,020,754 shares during the period. Finally, Hsbc Holdings PLC lifted its position in NIO by 651.5% during the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after purchasing an additional 1,387,656 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Company Profile

(Get Free Report)

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.

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