NIO (NYSE:NIO) Shares Down 4.1%

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Nio Inc – (NYSE:NIO) traded down 4.1% on Thursday . The stock traded as low as $6.16 and last traded at $6.04, 3,975,120 shares traded hands during trading. A decline of 94% from the average session volume of 61,672,563 shares. The stock had previously closed at $6.30.

Several equities analysts recently weighed in on the company. assumed coverage on NIO in a research report on Tuesday. They set a “sell” rating for the company. Zacks Investment Research lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Bank of America upgraded NIO from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Wednesday, May 6th. Sanford C. Bernstein restated an “underperform” rating on shares of NIO in a research note on Wednesday, February 26th. Finally, Citigroup lowered NIO from a “buy” rating to a “neutral” rating and set a $4.30 price target on the stock. in a research note on Monday, March 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. NIO has a consensus rating of “Hold” and an average target price of $3.72.

The company has a market capitalization of $6.62 billion, a P/E ratio of -4.15 and a beta of 2.23. The firm has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $3.41.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, May 28th. The company reported ($1.60) earnings per share for the quarter, beating the consensus estimate of ($1.85) by $0.25. NIO had a negative return on equity of 947.90% and a negative net margin of 138.04%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted ($2.42) EPS. The company’s revenue was down 15.9% compared to the same quarter last year. On average, sell-side analysts expect that Nio Inc – will post -1.25 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its stake in shares of NIO by 26.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 35,100 shares of the company’s stock valued at $98,000 after purchasing an additional 7,400 shares during the period. APG Asset Management N.V. boosted its holdings in shares of NIO by 55.3% in the 1st quarter. APG Asset Management N.V. now owns 171,100 shares of the company’s stock worth $476,000 after acquiring an additional 60,900 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of NIO by 83.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 20,400 shares of the company’s stock worth $57,000 after acquiring an additional 9,300 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of NIO in the 1st quarter worth approximately $2,405,000. Finally, Advisor Group Holdings Inc. acquired a new position in shares of NIO in the 1st quarter worth approximately $417,000. Institutional investors own 31.50% of the company’s stock.

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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