NIO (NYSE:NIO) Trading Down 8.1% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price dropped 8.1% during trading on Tuesday . The stock traded as low as $4.61 and last traded at $4.65. Approximately 36,956,379 shares changed hands during trading, a decline of 35% from the average daily volume of 56,575,121 shares. The stock had previously closed at $5.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price on the stock in a research note on Monday, October 28th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Citigroup cut their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.11.

NIO Price Performance

The stock has a market cap of $7.88 billion, a P/E ratio of -3.06 and a beta of 1.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $4.93.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.51) EPS. As a group, equities analysts forecast that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC bought a new stake in NIO during the 2nd quarter worth about $25,000. Allspring Global Investments Holdings LLC bought a new position in NIO in the 3rd quarter valued at about $32,000. Baader Bank Aktiengesellschaft acquired a new stake in NIO during the 2nd quarter worth approximately $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after acquiring an additional 2,651 shares during the period. Finally, Caprock Group LLC bought a new stake in NIO in the 2nd quarter valued at about $63,000. 48.55% of the stock is currently owned by 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.