NIO (NYSE:NIO) Shares Gap Down to $3.89

Nio Inc – (NYSE:NIO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $3.89, but opened at $3.75. NIO shares last traded at $3.76, with a volume of 11,852,402 shares trading hands.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of research analyst reports. Mizuho reaffirmed a “neutral” rating and set a $5.50 price target on shares of NIO in a research report on Monday, March 25th. Barclays reiterated an “underweight” rating and set a $4.00 price objective (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Jefferies Financial Group decreased their price objective on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. Macquarie started coverage on shares of NIO in a research note on Monday. They set a “neutral” rating and a $5.00 price target for the company. Finally, The Goldman Sachs Group began coverage on shares of NIO in a report on Wednesday, January 3rd. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.43.

NIO Trading Up 2.8 %

The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $5.25 and a two-hundred day moving average price of $6.76.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). The business 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%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. On average, analysts forecast that Nio Inc – will post -1.26 EPS for the current fiscal year.

Institutional Trading of NIO

Several hedge funds have recently added to or reduced their stakes in NIO. E Fund Management Hong Kong Co. Ltd. lifted its stake in NIO by 127.6% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company’s stock valued at $15,172,000 after purchasing an additional 431,851 shares during the last quarter. US Bancorp DE increased its holdings in NIO by 19.9% in the 1st quarter. US Bancorp DE now owns 18,593 shares of the company’s stock worth $392,000 after acquiring an additional 3,092 shares during the last quarter. Cibc World Market Inc. raised its stake in NIO by 23.6% in the 1st quarter. Cibc World Market Inc. now owns 38,708 shares of the company’s stock valued at $815,000 after acquiring an additional 7,396 shares during the period. Dimensional Fund Advisors LP lifted its holdings in NIO by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company’s stock valued at $57,007,000 after purchasing an additional 48,720 shares during the last quarter. Finally, Sei Investments Co. boosted its position in NIO by 45.6% during the first quarter. Sei Investments Co. now owns 338,913 shares of the company’s stock worth $7,134,000 after purchasing an additional 106,140 shares during the period. Institutional investors own 48.55% of the company’s stock.

About 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.