NIO (NIO) Trading Down 6.6%

Nio Inc – (NYSE:NIO)’s share price fell 6.6% on Tuesday . The company traded as low as $7.05 and last traded at $7.08. 19,573,037 shares were traded during mid-day trading, a decline of 17% from the average session volume of 23,526,568 shares. The stock had previously closed at $7.58.

A number of equities analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of NIO in a research note on Monday, October 22nd. They set an “outperform” rating and a $12.60 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of NIO in a research note on Tuesday, October 9th. They set a “neutral” rating for the company. Wolfe Research assumed coverage on shares of NIO in a research note on Monday, October 8th. They set an “outperform” rating and a $8.00 price objective for the company. Morgan Stanley assumed coverage on shares of NIO in a research note on Monday, October 8th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on shares of NIO in a research note on Monday, October 8th. They set a “neutral” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.47.

The company has a quick ratio of 2.28, a current ratio of 2.56 and a debt-to-equity ratio of 0.12.

Institutional investors have recently bought and sold shares of the company. Nwam LLC bought a new stake in shares of NIO in the 3rd quarter valued at about $230,000. Wells Fargo & Company MN bought a new stake in shares of NIO in the 3rd quarter valued at about $219,000. Strategic Wealth Advisors Group LLC bought a new stake in shares of NIO in the 3rd quarter valued at about $228,000. MML Investors Services LLC bought a new stake in shares of NIO in the 3rd quarter valued at about $266,000. Finally, National Asset Management Inc. bought a new stake in shares of NIO in the 3rd quarter valued at about $105,000. Institutional investors own 15.21% of the company’s stock.

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About NIO (NYSE:NIO)

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China, the United States, Germany, and the United Kingdom. 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.

Further Reading: Earnings Per Share (EPS) Explained

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