NIO (NYSE:NIO) Trading Down 1.4% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price was down 1.4% during mid-day trading on Thursday . The stock traded as low as $6.14 and last traded at $6.20. Approximately 20,720,752 shares were traded during trading, a decline of 63% from the average daily volume of 56,516,328 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Bank of America boosted 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. Finally, Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average target price of $5.93.

NIO Price Performance

The stock has a market cap of $10.71 billion, a PE ratio of -3.67 and a beta of 1.86. The business has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $4.76. 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 data on Thursday, September 5th. The company reported ($2.21) earnings per share (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 business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the prior year, the company earned ($0.51) earnings per share. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. Research analysts forecast that Nio Inc – will post -1.37 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. Cantor Fitzgerald L. P. increased its position in NIO by 23.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock valued at $132,000 after buying an additional 2,719 shares in the last quarter. Caas Capital Management LP bought a new stake in NIO in the 4th quarter worth about $144,000. Garden State Investment Advisory Services LLC purchased a new position in shares of NIO during the fourth quarter valued at approximately $2,040,000. Gallagher Fiduciary Advisors LLC lifted its holdings in shares of NIO by 4.2% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 93,250 shares of the company’s stock valued at $846,000 after buying an additional 3,800 shares during the period. Finally, Gordian Capital Singapore Pte Ltd lifted its holdings in NIO by 38.4% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 13,840 shares of the company’s stock valued at $126,000 after acquiring an additional 3,840 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.