NIO (NYSE:NIO) Stock Falls 1% – Here’s Why

NIO Inc. (NYSE:NIO) fell 1% on Monday. The stock traded as low as $3.36 and last traded at $3.3950. Approximately 22,503,899 shares traded hands during trading, a decline of 39% from the average session volume of 37,016,707 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NIO shares. Sanford C. Bernstein cut their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 2nd. Royal Bank Of Canada cut NIO to a “sector perform” rating in a research report on Thursday, September 3rd. Zacks Research cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.87.

NIO Stock Up 1.3%

The business has a fifty day moving average price of $3.84 and a two-hundred day moving average price of $4.90. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The company has a market cap of $8.53 billion, a price-to-earnings ratio of -12.72 and a beta of 0.92.

NIO (NYSE:NIO) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.00 EPS for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. The business had revenue of $4.73 billion during the quarter. On average, equities analysts predict that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. TD Waterhouse Canada Inc. increased its position in NIO by 62.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 45,764 shares of the company’s stock worth $156,000 after purchasing an additional 17,592 shares during the last quarter. Annex Advisory Services LLC purchased a new stake in shares of NIO during the 3rd quarter worth about $40,000. QRG Capital Management Inc. raised its stake in shares of NIO by 24.2% during the 2nd quarter. QRG Capital Management Inc. now owns 37,156 shares of the company’s stock worth $188,000 after purchasing an additional 7,246 shares in the last quarter. Wellington Altus USA Inc. purchased a new stake in shares of NIO during the 2nd quarter worth about $35,000. Finally, Engineers Gate Manager LP lifted its holdings in shares of NIO by 2.4% during the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock valued at $774,000 after buying an additional 3,537 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.