NIO (NYSE:NIO) Shares Down 1.4% – Should You Sell?

Shares of Nio Inc – (NYSE:NIO) traded down 1.4% during trading on Monday . The company traded as low as $4.64 and last traded at $4.77. 23,878,189 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 56,746,316 shares. The stock had previously closed at $4.84.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NIO. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIO presently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

The stock has a market cap of $7.53 billion, a price-to-earnings ratio of -2.91 and a beta of 1.91. The company’s 50 day simple moving average is $5.45 and its 200 day simple moving average is $4.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates 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 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) earnings per share. On average, equities research analysts anticipate that Nio Inc – will post -1.39 earnings per share for the current year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently modified their holdings of NIO. Point72 Asset Management L.P. grew its holdings in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the period. FMR LLC grew its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after purchasing an additional 370,556 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in NIO by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares in the last quarter. Institutional investors 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.