NIO (NYSE:NIO) Trading Down 1.1% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price was down 1.1% during mid-day trading on Monday . The company traded as low as $4.43 and last traded at $4.43. Approximately 14,313,998 shares changed hands during trading, a decline of 75% from the average daily volume of 56,576,227 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NIO shares. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

The company has a market cap of $7.55 billion, a price-to-earnings ratio of -2.93 and a beta of 1.91. 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 firm has a 50-day simple moving average of $5.41 and a 200 day simple moving average of $4.86.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. On average, sell-side analysts predict that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in NIO during the third quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in shares of NIO in the second quarter valued at $25,000. First Trust Direct Indexing L.P. purchased a new stake in shares of NIO in the third quarter valued at $76,000. Apollon Wealth Management LLC purchased a new stake in shares of NIO in the third quarter valued at $78,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of NIO in the second quarter valued at $53,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

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.