NIO (NYSE:NIO) Shares Down 4.3% – Should You Sell?

Nio Inc – (NYSE:NIO) dropped 4.3% on Monday . The stock traded as low as $5.94 and last traded at $5.97. Approximately 27,537,781 shares were traded during trading, a decline of 51% from the average daily volume of 56,429,199 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

Several research firms recently weighed in on NIO. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research initiated coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup decreased their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Bank of America upped their target price on 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, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.93.

NIO Stock Down 1.9 %

The firm has a market cap of $9.48 billion, a P/E ratio of -3.26 and a beta of 1.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $5.07 and a 200-day moving average price of $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, 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 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. On average, equities analysts forecast that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in NIO in the second quarter worth $25,000. HighPoint Advisor Group LLC purchased a new position in shares of NIO in the 4th quarter valued at approximately $93,000. Sound Income Strategies LLC boosted its stake in NIO by 3,333.3% in the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after purchasing an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in NIO during the 1st quarter worth approximately $51,000. Finally, Edge Wealth Management LLC acquired a new position in NIO during the 1st quarter valued at approximately $54,000. 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.