NIO (NYSE:NIO) Shares Down 0.6% (2024)

Posted by Defense World Staff on Jun 2nd, 2024

Nio Inc – (NYSE:NIO – Get Free Report) shares dropped 0.6% during mid-day trading on Friday . The company traded as low as $5.26 and last traded at $5.37. Approximately 21,830,853 shares traded hands during trading, a decline of 62% from the average daily volume of 56,926,102 shares. The stock had previously closed at $5.40.

Analysts Set New Price Targets

Several research analysts recently commented on NIO shares. Mizuho reaffirmed a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Macquarie started coverage on shares of NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Sanford C. Bernstein decreased their price objective on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Finally, Jefferies Financial Group lowered their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.43.

View Our Latest Analysis on NIO

NIO Stock Performance

The stock has a 50-day moving average of $4.78 and a 200 day moving average of $6.09. The firm has a market capitalization of $9.27 billion, a P/E 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.

NIO (NYSE:NIO – Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter in the previous year, the company posted ($0.51) EPS. NIO’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Nio Inc – will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Prudential PLC grew its stake in shares of NIO by 0.9% during the third quarter. Prudential PLC now owns 177,715 shares of the company’s stock valued at $1,607,000 after purchasing an additional 1,641 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in NIO by 9.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock valued at $182,000 after buying an additional 1,816 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after buying an additional 2,000 shares during the period. Fountainhead AM LLC raised its position in shares of NIO by 20.0% during the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock worth $109,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of NIO by 13.9% during the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock valued at $75,000 after acquiring an additional 2,038 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

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