NIO (NYSE:NIO) Shares Down 5.7% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price dropped 5.7% on Thursday . The company traded as low as $3.88 and last traded at $3.98. Approximately 89,867,073 shares were traded during trading, an increase of 62% from the average daily volume of 55,327,025 shares. The stock had previously closed at $4.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Cfra Research raised shares of NIO to a “hold” rating in a research report on Friday, March 21st. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Mizuho decreased their price target on shares of NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Citigroup cut their price target on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

NIO Stock Down 5.9 %

The stock has a fifty day moving average price of $4.43 and a two-hundred day moving average price of $4.84. The company has a market cap of $7.82 billion, a P/E ratio of -2.48 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO) last announced its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.81) EPS. On average, research analysts expect that Nio Inc – will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. FMR LLC lifted its holdings in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of NIO in the fourth quarter valued at approximately $3,305,000. Point72 Hong Kong Ltd purchased a new stake in shares of NIO during the 3rd quarter valued at approximately $4,879,000. SG Americas Securities LLC boosted its holdings in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd grew its stake in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.