NIO (NYSE:NIO) Trading Down 0.2% – Should You Sell?

Shares of Nio Inc – (NYSE:NIO) dropped 0.2% during trading on Thursday . The company traded as low as $4.50 and last traded at $4.64. Approximately 16,444,057 shares were traded during trading, a decline of 71% from the average daily volume of 56,677,988 shares. The stock had previously closed at $4.65.

Wall Street Analyst Weigh In

A number of research firms have commented on NIO. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $6.60 to $4.80 in a research note on Wednesday. Finally, Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIO currently has an average rating of “Hold” and a consensus price target of $5.91.

NIO Stock Performance

The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of -3.05 and a beta of 1.91. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $5.52 and its 200-day simple moving average is $4.91.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same period last year, the business earned ($0.51) EPS. The company’s revenue was up 98.9% on a year-over-year basis. Analysts predict that Nio Inc – will post -1.38 EPS for the current year.

Institutional Investors Weigh In On NIO

Several hedge funds and other institutional investors have recently bought and sold shares of NIO. CANADA LIFE ASSURANCE Co raised its stake in NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after acquiring an additional 535,400 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of NIO by 13.9% in 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 in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of NIO in the first quarter valued at about $185,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of NIO by 29.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock valued at $184,000 after acquiring an additional 9,375 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of NIO by 12.4% in the first quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock valued at $1,912,000 after acquiring an additional 46,987 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

About NIO

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.