NIO (NYSE:NIO) Shares Down 0.5%

Nio Inc – (NYSE:NIO) shares fell 0.5% on Tuesday . The stock traded as low as $4.32 and last traded at $4.41. 9,794,149 shares were traded during trading, a decline of 82% from the average session volume of 55,815,902 shares. The stock had previously closed at $4.43.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Mizuho reaffirmed a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Jefferies Financial Group lowered their target price on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Citigroup reduced their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, Bank of America increased their price objective on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.55.

NIO Stock Performance

The company’s 50-day moving average is $4.82 and its 200-day moving average is $5.86. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of -2.61 and a beta of 1.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts predict that Nio Inc – will post -1.33 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC bought a new position in NIO during the 4th quarter worth $33,000. Rakuten Securities Inc. bought a new position in shares of NIO in the fourth quarter worth $38,000. Principal Securities Inc. bought a new position in shares of NIO in the fourth quarter worth $42,000. Newbridge Financial Services Group Inc. increased its position in shares of NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock worth $42,000 after purchasing an additional 6,875 shares during the period. Finally, Calton & Associates Inc. bought a new position in NIO in the fourth quarter valued at about $92,000. Institutional investors and hedge funds 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.