NIO (NYSE:NIO) Shares Down 1.7% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price fell 1.7% on Thursday . The company traded as low as $4.48 and last traded at $4.53. Approximately 16,480,717 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 56,566,891 shares. The stock had previously closed at $4.61.

Analyst Ratings Changes

Several research analysts recently commented on NIO shares. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price target for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Bank of America increased their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and an average price target of $6.11.

NIO Trading Down 2.8 %

The company has a 50 day simple moving average of $5.59 and a two-hundred day simple moving average of $4.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $7.70 billion, a PE ratio of -2.95 and a beta of 1.91.

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

Institutional Trading of NIO

A number of hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. increased its stake in shares of NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock valued at $371,000 after purchasing an additional 2,000 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of NIO by 127.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock worth $1,704,000 after purchasing an additional 211,936 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in NIO by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,215,168 shares of the company’s stock valued at $5,468,000 after buying an additional 43,758 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in NIO by 28.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after buying an additional 535,400 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after buying an additional 2,038 shares during the last quarter. 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.