NIO (NYSE:NIO) Stock Price Down 1.5% – Time to Sell?

Shares of Nio Inc – (NYSE:NIO) dropped 1.5% during mid-day trading on Tuesday . The company traded as low as $4.52 and last traded at $4.60. Approximately 26,136,404 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 56,451,168 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

Several research firms recently commented on NIO. Bank of America increased their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Wolfe Research started coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Citigroup dropped their price objective 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. Macquarie raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.60 target price on the stock in a research note on Monday, October 28th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.11.

NIO Price Performance

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 stock’s 50-day moving average is $5.55 and its two-hundred day moving average is $4.92. The stock has a market cap of $7.82 billion, a PE ratio of -3.03 and a beta of 1.91.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co lifted its holdings in NIO by 28.2% during 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 in the last quarter. Westwood Holdings Group Inc. grew its stake in NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in NIO during the 1st quarter worth about $185,000. B. Riley Wealth Advisors Inc. raised its position in NIO by 29.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock valued at $184,000 after purchasing an additional 9,375 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of NIO by 12.4% in the 1st quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock valued at $1,912,000 after buying an additional 46,987 shares during the period. Hedge funds and other 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.