Shares of Nio Inc – (NYSE:NIO – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $6.14, but opened at $5.93. NIO shares last traded at $5.90, with a volume of 12,056,392 shares traded.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Mizuho decreased their price target on shares of NIO from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 6th. Bank of America lowered shares of NIO from a “buy” rating to a “neutral” rating in a report on Tuesday, January 9th. Finally, The Goldman Sachs Group started coverage on shares of NIO in a report on Wednesday, January 3rd. They set a “neutral” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, NIO currently has an average rating of “Hold” and a consensus price target of $12.75.
NIO Price Performance
The company has a debt-to-equity ratio of 0.76, a current ratio of 1.09 and a quick ratio of 0.97. The firm has a market cap of $10.16 billion, a P/E ratio of -3.39 and a beta of 1.98. The stock’s 50-day simple moving average is $7.08 and its two-hundred day simple moving average is $8.41.
NIO (NYSE:NIO – Get Free Report) last posted its quarterly earnings results on Tuesday, December 5th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. NIO had a negative net margin of 39.26% and a negative return on equity of 114.38%. Equities research analysts forecast that Nio Inc – will post -1.65 earnings per share for the current fiscal year.
Institutional Trading of NIO
Several hedge funds have recently modified their holdings of NIO. Norges Bank acquired a new position in NIO in the 4th quarter worth approximately $155,344,000. Voloridge Investment Management LLC acquired a new position in NIO in the 4th quarter worth approximately $73,622,000. Two Sigma Investments LP acquired a new stake in shares of NIO during the 1st quarter worth approximately $71,533,000. Renaissance Technologies LLC grew its stake in shares of NIO by 2,377.8% during the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after purchasing an additional 5,183,600 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the period. 42.32% of the stock is 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.