NIO (NYSE:NIO) Stock Price Down 1.4% on Analyst Downgrade

Nio Inc – (NYSE:NIO) dropped 1.4% during trading on Thursday after Mizuho lowered their price target on the stock from $4.20 to $3.50. Mizuho currently has a neutral rating on the stock. NIO traded as low as $3.27 and last traded at $3.27. Approximately 15,661,584 shares were traded during trading, a decline of 72% from the average daily volume of 56,123,727 shares. The stock had previously closed at $3.31.

A number of other equities analysts have also commented on the company. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Cfra Research upgraded shares of NIO to a “hold” rating in a research report on Friday, March 21st. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Citigroup lowered their price target on shares of NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NIO has an average rating of “Hold” and an average price target of $5.05.

Institutional Investors Weigh In On NIO

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC bought a new position in shares of NIO in the 4th quarter worth $44,000. Sava Infond d.o.o. acquired a new stake in shares of NIO during the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Stock Up 6.6 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of -2.32 and a beta of 1.74. The firm has a 50 day simple moving average of $4.23 and a two-hundred day simple moving average of $4.67.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the business earned ($2.81) earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Nio Inc – will post -1.43 EPS for the current year.

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.