NIO (NYSE:NIO) Shares Down 4.2%

Shares of Nio Inc – (NYSE:NIO) fell 4.2% during mid-day trading on Monday . The company traded as low as $3.66 and last traded at $3.88. 26,235,623 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 53,073,336 shares. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NIO. Bank of America increased their price target on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and raised their target price for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Macquarie started coverage on shares of NIO in a research note on Monday, April 15th. They set a “neutral” rating and a $5.00 target price for the company. Finally, Citigroup decreased their target price on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.55.

NIO Stock Down 4.0 %

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 $6.69 billion, a price-to-earnings ratio of -2.30 and a beta of 1.86. The business’s fifty day moving average price is $4.61 and its 200 day moving average price is $5.04.

NIO (NYSE:NIO) last released its 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 firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. On average, equities analysts expect that Nio Inc – will post -1.41 EPS for the current year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares during the period. Electron Capital Partners LLC grew its stake in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after acquiring an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of NIO by 127.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after buying an additional 211,936 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in NIO in the 1st quarter worth approximately $448,000. 48.55% of the stock is currently 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.