NIO (NYSE:NIO) Trading Down 3%

Shares of Nio Inc – (NYSE:NIO) were down 3% during trading on Friday . The stock traded as low as $4.24 and last traded at $4.26. Approximately 12,969,975 shares were traded during trading, a decline of 76% from the average daily volume of 54,483,180 shares. The stock had previously closed at $4.39.

Analysts Set New Price Targets

NIO has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Jefferies Financial Group dropped their target price on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price target on shares of NIO in a research note on Monday, March 25th. Finally, Barclays reissued an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Stock Down 5.2 %

The company’s fifty day simple moving average is $4.85 and its 200 day simple moving average is $5.72. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $7.15 billion, a P/E ratio of -2.46 and a beta of 1.80.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. Research analysts expect that Nio Inc – will post -1.41 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Stratos Wealth Partners LTD. boosted its holdings in NIO by 9.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock worth $182,000 after purchasing an additional 1,816 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in NIO by 2.5% during the first quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after acquiring an additional 2,000 shares during the last quarter. Fountainhead AM LLC increased its position in NIO by 20.0% during the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock valued at $109,000 after acquiring an additional 2,012 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after acquiring an additional 2,038 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock worth $181,000 after purchasing an additional 2,092 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.