NIO (NYSE:NIO) Stock Price Down 8.1% – Should You Sell?

Nio Inc – (NYSE:NIO) fell 8.1% on Tuesday . The company traded as low as $4.61 and last traded at $4.65. 36,956,379 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 56,575,121 shares. The stock had previously closed at $5.06.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NIO. Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Macquarie upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a report on Monday, October 28th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.11.

NIO Price Performance

The stock’s 50-day moving average price is $5.59 and its 200 day moving average price is $4.93. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of -2.95 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS 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 during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. Equities research analysts predict that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. increased its holdings 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 worth $26,891,000 after buying an additional 4,018,659 shares in the last quarter. Swedbank AB bought a new stake in shares of NIO during the first quarter valued at approximately $5,343,000. CANADA LIFE ASSURANCE Co grew its stake 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 last quarter. Finally, Krane Funds Advisors LLC grew its stake 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 last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.