NIO (NYSE:NIO) Stock Price Down 7.4%

Nio Inc – (NYSE:NIO) shares dropped 7.4% on Friday . The stock traded as low as $4.11 and last traded at $4.13. Approximately 33,483,281 shares changed hands during trading, a decline of 41% from the average daily volume of 56,356,891 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

NIO has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday, March 6th. Jefferies Financial Group dropped their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research report on Wednesday, March 6th. Barclays reissued 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 shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Finally, Sanford C. Bernstein dropped their price target on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, NIO has an average rating of “Hold” and a consensus price target of $8.74.

NIO Stock Performance

The firm’s 50 day moving average price is $5.36 and its 200-day moving average price is $6.87. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of -2.35 and a beta of 1.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13.

NIO (NYSE:NIO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (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 analyst estimates of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) EPS. On average, analysts anticipate that Nio Inc – will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in NIO during the fourth quarter worth $33,000. Bfsg LLC acquired a new stake in NIO during the fourth quarter worth $33,000. Rakuten Securities Inc. acquired a new stake in NIO during the fourth quarter worth $38,000. Principal Securities Inc. acquired a new stake in NIO during the fourth quarter worth $42,000. Finally, Peoples Bank KS acquired a new stake in NIO during the third quarter worth $46,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.