NIO (NYSE:NIO) Shares Gap Down - What's Next?
NIO Inc. (NYSE:NIO) shares gapped down from $6.58 to $6.38 before trading at $6.15 with a volume of 12,969,339 shares. Analysts have set new price targets, with Barclays lowering theirs to $3.00 and JPMorgan raising it to $8.00. The company reported a loss of $0.45 EPS, missing estimates, but revenue increased by 21.5% year-over-year. Institutional investors hold 48.55% of NIO's stock, which has a market cap of $12.67 billion and a negative P/E ratio of -3.75. The average analyst rating is "Hold" with a consensus price target of $5.21.
NIO Inc. (NYSE:NIO - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $6.58, but opened at $6.38. NIO shares last traded at $6.15, with a volume of 12,969,339 shares trading hands.
Analysts Set New Price Targets
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NIO has been the subject of several recent research reports. Barclays reduced their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and increased their price target for the company from $3.70 to $3.80 in a research report on Tuesday, June 17th. Mizuho cut their price objective on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $4.80 to $8.00 in a research report on Tuesday, August 26th. Finally, Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.21.
Check Out Our Latest Analysis on NIO
NIO Stock Performance
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The company has a market cap of $12.67 billion, a P/E ratio of -3.75 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average price of $4.67 and a two-hundred day moving average price of $4.22.
NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%.NIO's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($2.39) EPS. On average, research analysts predict that NIO Inc. will post -1.43 earnings per share for the current fiscal year.
Hedge Funds Weigh In On NIO
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A number of hedge funds have recently added to or reduced their stakes in NIO. Cantor Fitzgerald L. P. increased its stake in NIO by 281.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 49,863 shares of the company's stock worth $217,000 after acquiring an additional 36,774 shares during the period. Ethic Inc. grew its position in NIO by 147.5% during the 4th quarter. Ethic Inc. now owns 119,432 shares of the company's stock worth $521,000 after acquiring an additional 71,184 shares during the last quarter. J. Goldman & Co LP bought a new stake in NIO during the 4th quarter worth $541,000. Laird Norton Wetherby Wealth Management LLC grew its position in NIO by 15.1% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company's stock worth $290,000 after acquiring an additional 8,746 shares during the last quarter. Finally, Laird Norton Wetherby Trust Company LLC acquired a new position in NIO during the 4th quarter worth about $93,000. Institutional investors own 48.55% of the company's stock.
NIO Company Profile
(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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