NIO (NYSE:NIO) Shares Down 4.7% – Should You Sell?

Nio Inc – (NYSE:NIO)’s stock price traded down 4.7% on Friday . The stock traded as low as $5.02 and last traded at $5.06. 25,011,838 shares traded hands during trading, a decline of 56% from the average session volume of 56,538,484 shares. The stock had previously closed at $5.31.

Analyst Ratings Changes

Several equities research analysts recently commented on NIO shares. Wolfe Research started coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price target for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.11.

NIO Trading Down 4.5 %

The company has a fifty day moving average of $5.53 and a two-hundred day moving average of $4.91. 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 has a market capitalization of $8.72 billion, a price-to-earnings ratio of -3.33 and a beta of 1.91.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. On average, research analysts expect that Nio Inc – will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NIO. Point72 Asset Management L.P. increased its position in shares of NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the period. Swedbank AB bought a new stake in shares of NIO during the first quarter valued at approximately $5,343,000. SG Americas Securities LLC increased its position in shares of NIO by 64.6% during the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after purchasing an additional 744,067 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after purchasing an additional 535,400 shares during the period. Finally, Krane Funds Advisors LLC increased its position in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after purchasing an additional 370,556 shares during the period. 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.