NIO (NYSE:NIO) Shares Down 1.3%

Nio Inc – (NYSE:NIO)’s stock price was down 1.3% on Thursday . The stock traded as low as $3.92 and last traded at $3.94. Approximately 7,332,278 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 51,310,406 shares. The stock had previously closed at $3.99.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating for the company in a research report on Thursday, June 6th. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $4.80 to $5.40 in a research note on Wednesday, May 15th. Finally, Bank of America upped their target price on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Trading Up 2.4 %

The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $4.30 and a 200-day moving average price of $4.84. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -2.42 and a beta of 1.86.

NIO (NYSE:NIO) last released its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. On average, equities research analysts predict that Nio Inc – will post -1.41 EPS for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in shares of NIO in the 2nd quarter valued at $25,000. Bfsg LLC acquired a new stake in NIO in the 4th quarter valued at about $33,000. Newbridge Financial Services Group Inc. increased its position in NIO by 272.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after buying an additional 6,875 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of NIO in the fourth quarter valued at $42,000. Finally, BSW Wealth Partners acquired a new stake in NIO during the first quarter worth approximately $46,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.