NIO (NYSE:NIO) Reaches New 1-Year Low – What’s Next?

NIO Inc. (NYSE:NIO)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $3.57 and last traded at $3.5750, with a volume of 21389836 shares traded. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

NIO has been the subject of a number of research analyst reports. Freedom Broker downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Citigroup reissued a “buy” rating on shares of NIO in a research note on Tuesday, September 1st. Zacks Research lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $4.50 in a research report on Wednesday, September 2nd. Finally, Sanford C. Bernstein reduced their price objective on NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, NIO presently has a consensus rating of “Hold” and a consensus price target of $6.21.

NIO Stock Performance

The firm has a fifty day moving average of $4.50 and a 200-day moving average of $5.25. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The firm has a market cap of $8.90 billion, a P/E ratio of -13.20 and a beta of 0.92.

NIO (NYSE:NIO) last announced its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%.The firm had revenue of $4.73 billion during the quarter. Research analysts predict that NIO Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after buying an additional 7,079,903 shares during the period. Renaissance Technologies LLC grew its holdings in NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after acquiring an additional 5,962,731 shares during the period. Assenagon Asset Management S.A. acquired a new stake in NIO during the 2nd quarter worth $19,008,000. SG Americas Securities LLC raised its position in shares of NIO by 67.2% during the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock valued at $30,314,000 after acquiring an additional 2,020,754 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after purchasing an additional 1,387,656 shares during the period. 48.55% of the stock is owned by institutional investors.

About NIO

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO’s vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.