NIO (NYSE:NIO) Stock Price Down 1.2% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price dropped 1.2% during mid-day trading on Friday . The stock traded as low as $6.42 and last traded at $6.62. Approximately 48,927,504 shares traded hands during trading, a decline of 13% from the average daily volume of 56,158,215 shares. The stock had previously closed at $6.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup reduced their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upgraded 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 report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.93.

NIO Trading Down 0.6 %

The company has a market capitalization of $11.45 billion, a PE ratio of -3.92 and a beta of 1.82. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average price is $4.73 and its two-hundred day moving average price is $4.73.

NIO (NYSE:NIO) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion during 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 firm’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share. Sell-side analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently bought and sold shares of NIO. Ridgewood Investments LLC purchased a new stake in NIO in the second quarter worth about $25,000. Sound Income Strategies LLC increased its holdings in shares of NIO by 3,333.3% during the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after acquiring an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in shares of NIO in the 1st quarter worth about $51,000. Baader Bank Aktiengesellschaft purchased a new stake in NIO during the 2nd quarter valued at about $53,000. Finally, Edge Wealth Management LLC bought a new stake in NIO during the 1st quarter valued at about $54,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.