NIO (NYSE:NIO) Reaches New 12-Month Low at $4.16

Shares of Nio Inc – (NYSE:NIO) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.16 and last traded at $4.17, with a volume of 16021955 shares changing hands. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

NIO has been the topic of several recent research reports. Barclays restated an “underweight” rating and issued a $4.00 price target (down previously from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. UBS Group dropped their price target on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. The Goldman Sachs Group began coverage on NIO in a research report on Wednesday, January 3rd. They set a “neutral” rating on the stock. Bank of America dropped their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. decreased their price target on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.74.

NIO Trading Down 7.8 %

The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $5.36 and a 200-day moving average of $6.87. The stock has a market cap of $7.07 billion, a PE ratio of -2.35 and a beta of 1.93.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in shares of NIO by 352.5% during the 3rd quarter. SG Americas Securities LLC now owns 630,470 shares of the company’s stock worth $5,699,000 after buying an additional 491,140 shares during the last quarter. Electron Capital Partners LLC acquired a new stake in shares of NIO during the 3rd quarter worth $37,918,000. Top Ace Asset Management Ltd acquired a new stake in shares of NIO during the 3rd quarter worth $1,888,000. Banque Pictet & Cie SA acquired a new stake in shares of NIO during the 3rd quarter worth $2,486,000. Finally, Meridian Wealth Management LLC increased its holdings in shares of NIO by 503.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 89,849 shares of the company’s stock worth $812,000 after buying an additional 74,968 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.