NIO (NYSE:NIO) Hits New 52-Week Low at $4.38

Shares of Nio Inc – (NYSE:NIOGet Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $4.38 and last traded at $4.50, with a volume of 11224965 shares traded. The stock had previously closed at $4.64.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on NIO in a research report on Wednesday, January 3rd. They set a “neutral” rating for the company. Sanford C. Bernstein dropped their price target on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. Jefferies Financial Group decreased their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. JPMorgan Chase & Co. decreased their price objective on NIO from $5.00 to $4.80 and set an “underweight” rating on the stock in a report on Wednesday, March 6th. Finally, Bank of America decreased their price objective on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.74.

Check Out Our Latest Analysis on NIO

NIO Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. The stock has a 50 day simple moving average of $5.56 and a 200 day simple moving average of $7.08.

NIO (NYSE:NIOGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. NIO’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share. As a group, equities analysts expect that Nio Inc – will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of large investors have recently made changes to their positions in the business. HighPoint Advisor Group LLC bought a new stake in shares of NIO in the 4th quarter worth approximately $93,000. Napatree Capital LLC bought a new stake in shares of NIO in the 4th quarter worth approximately $119,000. Quadrature Capital Ltd bought a new stake in shares of NIO in the 4th quarter worth approximately $12,361,000. Fisher Asset Management LLC grew its position in shares of NIO by 184.0% in the 4th quarter. Fisher Asset Management LLC now owns 244,766 shares of the company’s stock worth $2,220,000 after buying an additional 158,595 shares during the last quarter. Finally, Electron Capital Partners LLC grew its position in shares of NIO by 5.6% in the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after buying an additional 235,521 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Company Profile

(Get Free Report)

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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