Nio Inc – (NYSE:NIO – Get Free Report)’s share price traded down 3.5% on Thursday after Sanford C. Bernstein lowered their price target on the stock from $7.50 to $5.50. Sanford C. Bernstein currently has a market perform rating on the stock. NIO traded as low as $5.47 and last traded at $5.57. 17,151,861 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 58,978,602 shares. The stock had previously closed at $5.77.
Other analysts have also recently issued research reports about the stock. Bank of America cut their price target on shares of NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday. Mizuho cut their price target on shares of NIO from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 6th. Barclays cut their price target on shares of NIO from $8.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Jefferies Financial Group cut their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on shares of NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.53.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in NIO in the 4th quarter worth $155,344,000. Voloridge Investment Management LLC purchased a new position in NIO in the fourth quarter worth about $73,622,000. Two Sigma Investments LP purchased a new position in NIO in the first quarter worth about $71,533,000. Renaissance Technologies LLC raised its holdings in NIO by 2,377.8% in the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after buying an additional 5,183,600 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock valued at $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. 42.32% of the stock is owned by institutional investors.
NIO Price Performance
The firm’s fifty day moving average price is $6.46 and its two-hundred day moving average price is $7.84. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $9.58 billion, a PE ratio of -3.30 and a beta of 1.94.
NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $18.16 billion. NIO had a negative return on equity of 125.50% and a negative net margin of 38.09%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) earnings per share. On average, equities analysts predict that Nio Inc – will post -1.02 earnings per share for the current year.
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.