NIO (NYSE:NIO) Hits New 1-Year Low – Time to Sell?

Nio Inc – (NYSE:NIO)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $3.57 and last traded at $3.82, with a volume of 14254356 shares changing hands. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

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

NIO Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm has a market capitalization of $8.00 billion, a P/E ratio of -2.54 and a beta of 1.81. The stock’s fifty day simple moving average is $4.43 and its 200 day simple moving average is $4.83.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Flow Traders U.S. LLC purchased a new position in shares of NIO during the third quarter worth $141,000. Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the third quarter valued at $4,879,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of NIO in the 3rd quarter valued at $377,000. Finally, Hilltop Holdings Inc. purchased a new stake in NIO during the third quarter worth about $130,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.