NIO (NYSE:NIO) Trading Down 2.1% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price was down 2.1% during mid-day trading on Thursday . The stock traded as low as $3.63 and last traded at $3.72. Approximately 15,544,127 shares changed hands during trading, a decline of 72% from the average daily volume of 55,761,347 shares. The stock had previously closed at $3.80.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NIO. Cfra Research raised shares of NIO to a “hold” rating in a report on Friday, March 21st. Citigroup reduced their price target on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research report on Monday, March 24th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Mizuho dropped their target price on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.17.

NIO Price Performance

The company has a market capitalization of $7.82 billion, a PE ratio of -2.48 and a beta of 1.81. The firm has a fifty day simple moving average of $4.40 and a 200 day simple moving average of $4.80. 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 released its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $20.19 billion. During the same quarter in the previous year, the firm earned ($2.81) earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. Equities analysts anticipate that Nio Inc – will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in NIO. Toronto Dominion Bank boosted its position in shares of NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of NIO during the fourth quarter valued at $1,360,000. AlphaStar Capital Management LLC purchased a new position in NIO in the 4th quarter worth $537,000. FMR LLC raised its stake in 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 acquiring an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of NIO during the third quarter worth about $1,327,000. 48.55% of the stock is currently owned by institutional investors.

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.