NIO (NYSE:NIO) Shares Down 4.3% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price was down 4.3% on Monday . The company traded as low as $5.94 and last traded at $5.97. Approximately 27,537,781 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 56,429,199 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NIO. Citigroup decreased their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price target 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 research report on Monday, September 30th. Bank of America lifted their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.93.

NIO Stock Down 1.9 %

The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of -3.26 and a beta of 1.86. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average is $5.07 and its two-hundred day moving average is $4.80.

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

Hedge Funds Weigh In On NIO

Institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in NIO by 184.0% during the fourth quarter. Fisher Asset Management LLC now owns 244,766 shares of the company’s stock worth $2,220,000 after acquiring an additional 158,595 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in NIO in the fourth quarter valued at about $93,000. Los Angeles Capital Management LLC purchased a new position in NIO during the first quarter worth about $448,000. First Affirmative Financial Network increased its position in shares of NIO by 26.4% during the first quarter. First Affirmative Financial Network now owns 13,256 shares of the company’s stock valued at $60,000 after acquiring an additional 2,768 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of NIO by 46.1% during the 1st quarter. International Assets Investment Management LLC now owns 26,820 shares of the company’s stock worth $124,000 after purchasing an additional 8,462 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.