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

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

Wall Street Analysts Forecast Growth

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

NIO Stock Performance

The stock’s 50-day simple moving average is $5.59 and its 200-day simple moving average is $4.93. The stock 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 current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.51) EPS. Analysts forecast that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of NIO

Several large investors have recently made changes to their positions in NIO. FMR LLC boosted its position in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. boosted its position in NIO by 164.3% in 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 buying an additional 4,018,659 shares in the last quarter. Swedbank AB acquired a new stake in NIO in the first quarter valued at approximately $5,343,000. CANADA LIFE ASSURANCE Co boosted its position in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after buying an additional 535,400 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its position in NIO by 31.7% in the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after buying an additional 370,556 shares in 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.