NIO (NYSE:NIO) Shares Down 0.5% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price traded down 0.5% during trading on Wednesday . The stock traded as low as $3.04 and last traded at $3.13. 22,191,335 shares traded hands during trading, a decline of 60% from the average session volume of 56,146,705 shares. The stock had previously closed at $3.14.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of research analyst reports. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Citigroup decreased their target price on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Cfra Research upgraded shares of NIO to a “hold” rating in a research report on Friday, March 21st. Mizuho reduced their price objective on shares of NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NIO has an average rating of “Hold” and an average target price of $5.05.

NIO Stock Performance

The firm’s 50-day moving average price is $4.23 and its two-hundred day moving average price is $4.67. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $7.30 billion, a PE ratio of -2.32 and a beta of 1.74.

NIO (NYSE:NIO) last announced its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the firm earned ($2.81) earnings per share. NIO’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, research analysts predict that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

Hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in shares of NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after acquiring an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in NIO in the 4th quarter worth about $1,360,000. AlphaStar Capital Management LLC purchased a new stake in shares of NIO during the 4th quarter worth about $537,000. Arizona PSPRS Trust acquired a new stake in shares of NIO during the 4th quarter valued at about $1,330,000. Finally, Principal Financial Group Inc. grew its stake in shares of NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after buying an additional 43,839 shares in the last quarter. 48.55% of the stock is 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.