NIO (NYSE:NIO) Stock Price Down 3.1%

Nio Inc – (NYSE:NIO) shares were down 3.1% on Monday . The stock traded as low as $5.38 and last traded at $5.38. Approximately 10,450,318 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 52,141,254 shares. The stock had previously closed at $5.55.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NIO shares. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Bank of America raised their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.93.

NIO Trading Down 2.2 %

The stock has a market cap of $9.33 billion, a PE ratio of -3.18 and a beta of 1.82. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average price is $4.35 and its 200 day moving average price is $4.69.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) EPS. On average, sell-side analysts forecast that Nio Inc – will post -1.41 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Bank of New York Mellon Corp grew its position in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after buying an additional 343,910 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after purchasing an additional 439,474 shares during the period. Electron Capital Partners LLC lifted its position in NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock valued at $40,180,000 after purchasing an additional 235,521 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in NIO by 127.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after purchasing an additional 211,936 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares in the last quarter. Hedge funds and other institutional investors 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.