NIO (NYSE:NIO) Shares Down 5.3% – Time to Sell?

Shares of Nio Inc – (NYSE:NIO) fell 5.3% during mid-day trading on Thursday . The company traded as low as $5.18 and last traded at $5.22. 24,326,770 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 56,552,512 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

Several analysts have weighed in on NIO shares. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Trading Up 1.4 %

The stock has a market cap of $8.97 billion, a PE ratio of -3.09 and a beta of 1.86. The stock’s fifty day moving average price is $5.16 and its 200 day moving average price is $4.81. 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 issued its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company’s revenue was up 98.9% compared to the same quarter last year. During the same period last year, the business posted ($0.51) EPS. On average, sell-side analysts forecast that Nio Inc – will post -1.37 EPS for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC purchased a new stake in shares of NIO in the 2nd quarter worth $25,000. Allspring Global Investments Holdings LLC purchased a new position in NIO during the 3rd quarter valued at about $32,000. Sound Income Strategies LLC increased its position in NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after purchasing an additional 10,000 shares during the period. Perigon Wealth Management LLC bought a new position in shares of NIO during the first quarter valued at approximately $51,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in NIO during the second quarter valued at about $53,000. 48.55% of the stock is currently owned by institutional investors.

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.