The stock of NIO Inc. (NYSE:NIO) last traded at $8.03, up 1.52% from the previous session.
NIO stock price is now -7.78% away from the 50-day moving average and -35.18% away from the 200-day moving average. The market capitalization of the company currently stands at $14.40B.
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With the price target reduced from $14 to $10, JP Morgan Downgraded its rating from Overweight to Neutral for NIO Inc. (NYSE: NIO). On March 02, 2023, Barclays Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock reducing its target price from $18 to quote $10, while ‘Jefferies’ rates the stock as ‘Hold’.
There have been several recent changes in the stakes of large investors in NIO stock. A new stake in NIO Inc. shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $54,654,000. IMC-CHICAGO, LLC invested $6,663,000 in shares of NIO during the first quarter. In the first quarter, QUADRATURE CAPITAL LTD acquired a new stake in NIO Inc. valued at approximately $6,564,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in NIO for approximately $5,850,000. POLAR CAPITAL HOLDINGS PLC purchased a new stake in NIO valued at around $5,396,000 in the second quarter. In total, there are 760 active investors with 35.70% ownership of the company’s stock.
With an opening price of $7.82 on Wednesday morning, NIO Inc. (NYSE: NIO) set off the trading day. During the past 12 months, NIO Inc. has had a low of $7.33 and a high of $24.43. As of last week, the company has a debt-to-equity ratio of 0.68, a current ratio of 1.30, and a quick ratio of 1.10. The fifty day moving average price for NIO is $8.69 and a two-hundred day moving average price translates $12.33 for the stock.
The latest earnings results from NIO Inc. (NYSE: NIO) was released for Dec, 2022. The net profit margin was -29.60% and return on equity was -48.90% for NIO. The company reported revenue of $2.22 billion for the quarter, compared to $1.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 36.59 percent.
NIO Inc.(NIO) Company Profile
NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five and six-seater electric SUVs, as well as smart electric sedans. The company also offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger and Destination Charger; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service. In addition, it provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; repair and routine maintenance; courtesy vehicle services; roadside assistance; data packages; and auto financing and financial leasing services. Further, the company involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. Additionally, it offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.
