NIO (NYSE:NIO) Shares Down 0.5%
NIO Inc. (NYSE:NIO) shares fell 0.5% midday on Tuesday, trading at $8.01 after reaching a low of $8.00. Trading volume was significantly lower at 7,204,724 shares, down 86% from the average. Analysts showed mixed sentiments; JPMorgan upgraded NIO to 'neutral' with a target price of $9.40, while Bank of America also raised its target to $8.00, maintaining a neutral rating. The consensus rating is 'Hold' with a price target of $8.55. NIO's quarterly earnings reported an EPS of -$0.36, missing estimates. The company has a market cap of $15.88 billion.
Nio Inc - (NYSE:NIO - Get Free Report)'s share price fell 0.5% during mid-day trading on Tuesday . The company traded as low as $4.00 and last traded at $4.01. 7,204,724 shares were traded during mid-day trading, a decline of 86% from the average session volume of 50,845,637 shares. The stock had previously closed at $4.03.
Analysts Set New Price Targets
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A number of research firms have recently commented on NIO. JPMorgan Chase & Co. raised shares of NIO from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Bank of America raised their target price on shares of NIO from $5.90 to $6.00 and gave the company a "neutral" rating in a research report on Friday, June 7th. Finally, Citigroup lowered their price target on shares of NIO from $10.40 to $8.50 and set a "buy" rating for the company in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.55.
Read Our Latest Stock Report on NIO
NIO Trading Down 0.7 %
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The company has a market cap of $6.88 billion, a P/E ratio of -2.36 and a beta of 1.86. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm's 50 day moving average is $4.30 and its two-hundred day moving average is $4.81.
NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts anticipate that Nio Inc - will post -1.41 EPS for the current year.
Institutional Inflows and Outflows
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Several hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of NIO during the second quarter worth $25,000. Newbridge Financial Services Group Inc. lifted its holdings in NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company's stock valued at $42,000 after buying an additional 6,875 shares during the period. Principal Securities Inc. bought a new stake in NIO during the fourth quarter valued at $42,000. BSW Wealth Partners acquired a new stake in NIO during the 1st quarter worth about $46,000. Finally, Sound Income Strategies LLC raised its position in shares of NIO by 3,333.3% in the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company's stock worth $46,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 48.55% of the company's stock.
About NIO
(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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