NIO (NYSE:NIO) Stock Price Down 2.1%

Nio Inc – (NYSE:NIO) was down 2.1% on Wednesday . The company traded as low as $3.71 and last traded at $3.81. Approximately 42,222,200 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 53,061,916 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NIO shares. Mizuho restated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday, March 25th. Macquarie initiated coverage on shares of NIO in a report on Monday. They issued a “neutral” rating and a $5.00 price objective for the company. Bank of America cut their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. The Goldman Sachs Group initiated coverage on shares of NIO in a research report on Wednesday, January 3rd. They issued a “neutral” rating for the company. Finally, UBS Group cut their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.43.

NIO Price Performance

The company has a market cap of $6.65 billion, a P/E ratio of -2.28 and a beta of 1.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The firm’s fifty day moving average is $5.21 and its two-hundred day moving average is $6.74.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.51) EPS. As a group, analysts anticipate that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Norges Bank bought a new position in NIO during the 4th quarter valued at about $155,344,000. Voloridge Investment Management LLC bought a new position in NIO during the 4th quarter valued at about $73,622,000. Two Sigma Investments LP bought a new position in NIO in the 1st quarter worth about $71,533,000. Renaissance Technologies LLC grew its stake in NIO by 2,377.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after acquiring an additional 5,183,600 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in NIO by 238.6% in the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares in the last quarter. 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.