NIO (NYSE:NIO) Trading Down 1.9% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price was down 1.9% during mid-day trading on Wednesday . The stock traded as low as $4.25 and last traded at $4.31. Approximately 21,448,699 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 55,108,348 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

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

NIO Trading Down 4.7 %

The company’s 50-day moving average is $4.44 and its 200-day moving average is $4.86. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of -2.78 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS 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 business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm earned ($2.81) EPS. The business’s revenue was up 15.2% on a year-over-year basis. Research analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its holdings in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd increased its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Bridgewater Associates LP lifted its stake in shares of NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock worth $5,170,000 after purchasing an additional 263,338 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares during the period. Finally, Swedbank AB grew its stake in shares of NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after buying an additional 9,000 shares in the last quarter. 48.55% of the stock is 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.