NIO (NYSE:NIO) Stock Price Down 3.9% – Time to Sell?

Shares of Nio Inc – (NYSE:NIO) were down 3.9% during mid-day trading on Friday . The stock traded as low as $3.81 and last traded at $3.83. Approximately 30,211,948 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 55,370,170 shares. The stock had previously closed at $3.98.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Mizuho dropped their price target on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research report on Monday. Cfra Research raised NIO to a “hold” rating in a research note on Friday, March 21st. Citigroup reduced their price target on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIO presently has an average rating of “Hold” and an average price target of $5.00.

NIO Price Performance

The stock has a market cap of $7.88 billion, a PE ratio of -2.50 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock’s 50-day moving average is $4.44 and its two-hundred day moving average is $4.85.

NIO (NYSE:NIO) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the firm posted ($2.81) earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that Nio Inc – will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. Toronto Dominion Bank lifted its stake in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of NIO in the 4th quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new stake in shares of NIO during the 4th quarter worth $537,000. FMR LLC grew its stake in shares of NIO by 5,388.5% during the third 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 in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in NIO in the third quarter valued at $1,327,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.