NIO (NYSE:NIO) Reaches New 12-Month Low – Here’s Why

Nio Inc – (NYSE:NIO) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $3.18 and last traded at $3.36, with a volume of 73675901 shares changing hands. The stock had previously closed at $3.46.

Analyst Ratings Changes

Several analysts have commented on the company. Mizuho dropped their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a report on Monday, March 24th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Cfra Research raised NIO to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Citigroup lowered their price target on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.17.

NIO Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market cap of $6.90 billion, a PE ratio of -2.19 and a beta of 1.74. The stock has a 50-day simple moving average of $4.27 and a 200 day simple moving average of $4.71.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.81) EPS. Equities analysts expect that Nio Inc – will post -1.43 EPS for the current year.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares during the period. SBI Securities Co. Ltd. purchased a new stake in NIO during the 4th quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC purchased a new stake in NIO during the 4th quarter valued at approximately $537,000. Arizona PSPRS Trust purchased a new stake in NIO during the 4th quarter valued at approximately $1,330,000. Finally, Principal Financial Group Inc. raised its stake in shares of NIO by 140.2% during the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after buying an additional 43,839 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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.