NIO (NYSE:NIO) Hits New 12-Month Low – What’s Next?

Nio Inc – (NYSE:NIO)’s share price reached a new 52-week low on Monday . The stock traded as low as $3.57 and last traded at $3.82, with a volume of 14254356 shares. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NIO. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Citigroup reduced their price objective on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research note on Monday, March 24th. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. Finally, Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

NIO Trading Up 2.3 %

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average is $4.43 and its 200-day moving average is $4.83. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of -2.54 and a beta of 1.81.

NIO (NYSE:NIO) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm posted ($2.81) EPS. NIO’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Nio Inc – will post -1.43 EPS for the current fiscal year.

Institutional Trading of NIO

A number of institutional investors have recently modified their holdings of the business. Toronto Dominion Bank increased its holdings in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of NIO during the fourth quarter worth about $1,360,000. AlphaStar Capital Management LLC purchased a new position in shares of NIO during the fourth quarter worth about $537,000. FMR LLC raised its stake in NIO by 5,388.5% in 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 in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of NIO in the 3rd quarter worth $1,327,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.