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NIO (NYSE:NIO) Share Price Dropped 3.5%


Shares of Nio Inc – (NYSE:NIO – Get Free Report) fell 3.5% on Friday. The stock traded as low as $3.85 and last traded at $3.86. During afternoon trading, 10,423,177 shares were traded, down 81% from the average session volume of 55,831,441 shares. The stock previously closed at $4.00.

Analyst upgrades and downgrades

Various research agencies have looked into NIO. Mizuho reiterated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research report on Monday, March 25. The Goldman Sachs Group initiated coverage on shares of NIO in a research report on Wednesday, January 3rd. They gave the company a ‘neutral’ rating. Sanford C. Bernstein lowered their price objective on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7. UBS Group lowered their price objective on shares of NIO from $8.00 to $7.20 and gave the company a “neutral” rating in a research report on Thursday, March 14. Finally, Barclays reaffirmed an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a research note on Tuesday, April 2. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, NIO has an average rating of “Hold” and a consensus price target of $8.43.

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NIO shares fall 5.0%

The company’s 50-day moving average is $5.17 and its two-hundred-day moving average is $6.70. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -2.17 and a beta of 1.93. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings data on Tuesday, March 5. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same period last year, the company earned ($0.51) earnings per share. The company’s revenue increased by 6.5% compared to the same quarter last year. As a group, research analysts expect Nio Inc. will post a profit per share of -1.26 for the current financial year.

Institutional inflow and outflow

Several hedge funds and other institutional investors have recently bought and sold shares of NIO. Norges Bank bought a new position in NIO in the fourth quarter worth approximately $155,344,000. Voloridge Investment Management LLC bought a new position in NIO in the fourth quarter valued at approximately $73,622,000. Two Sigma Investments LP bought a new position in NIO in the first quarter worth approximately $71,533,000. Renaissance Technologies LLC increased its stake in NIO by 2,377.8% in the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock valued at $113,704,000 after purchasing an additional 5,183,600 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in NIO by 238.6% in 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. Institutional investors own 48.55% of the company’s shares.

About NIO

(Get a free report)

NIO Inc designs, manufactures and sells electric vehicles in the People’s Republic of China. The company is also involved in the production of e-powertrains, battery packs and components; and race management, technology development and sales and after-sales management activities. In addition, it offers power solutions for battery charging; and other value-added services.

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