NIO (NYSE:NIO) Stock Price Down 0.4% After Analyst Downgrade (2024)

Nio Inc – (NYSE:NIO – Get Free Report) traded down 0.4% during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $6.50 to $5.90. Bank of America currently has a neutral rating on the stock. NIO traded as low as $4.81 and last traded at $4.88. 18,401,833 shares changed hands during trading, a decline of 68% from the average session volume of 56,952,957 shares. The stock had previously closed at $4.90.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group cut their target price on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. UBS Group reduced their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Barclays restated an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. Finally, Macquarie began coverage on NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.43.

Get Our Latest Stock Report on NIO

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NIO. Hsbc Holdings PLC boosted its holdings in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after purchasing an additional 4,976,403 shares during the last quarter. Electron Capital Partners LLC raised its holdings in shares of NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NIO by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after purchasing an additional 439,474 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in NIO by 11.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock valued at $20,853,000 after purchasing an additional 245,800 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

The firm has a market cap of $9.27 billion, a PE ratio of -3.08 and a beta of 1.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.22. The firm’s 50 day moving average price is $4.76 and its two-hundred day moving average price is $6.11.

NIO (NYSE:NIO – Get Free Report) last posted its 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. NIO’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) EPS. On average, research analysts forecast that Nio Inc – will post -1.26 earnings per share for the current year.

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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