NIO (NYSE:NIO) Shares Down 5.5%

Nio Inc – (NYSE:NIO) traded down 5.5% during trading on Thursday . The company traded as low as $3.20 and last traded at $3.28, 28,689,846 shares traded hands during mid-day trading. A decline of 2% from the average session volume of 29,289,621 shares. The stock had previously closed at $3.47.

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of NIO from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Bank of America cut shares of NIO from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $6.20 to $3.00 in a report on Tuesday, May 28th. Finally, Zacks Investment Research cut shares of NIO from a “hold” rating to a “sell” rating in a report on Tuesday. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.27.

The business has a 50 day moving average price of $3.10. The firm has a market capitalization of $3.56 billion and a P/E ratio of -0.32. The company has a debt-to-equity ratio of 3.73, a current ratio of 1.49 and a quick ratio of 1.34.

NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, May 28th. The company reported ($2.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($1.92). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.41 billion. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that Nio Inc – will post -1.36 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in NIO in the fourth quarter worth about $36,000. Psagot Investment House Ltd. purchased a new stake in NIO in the first quarter worth about $29,000. Aries Wealth Management purchased a new stake in shares of NIO during the second quarter valued at about $33,000. Sigma Planning Corp purchased a new stake in shares of NIO during the second quarter valued at about $27,000. Finally, LPL Financial LLC purchased a new stake in shares of NIO during the fourth quarter valued at about $68,000. 27.13% of the stock is owned by institutional investors.

NIO Company Profile (NYSE: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.

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