NIO (NYSE:NIO) Stock Price Down 4.2% – Should You Sell?

Nio Inc – (NYSE:NIO)’s stock price fell 4.2% during mid-day trading on Wednesday . The company traded as low as $4.86 and last traded at $5.06. 42,414,613 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 56,504,496 shares. The stock had previously closed at $5.28.

Analysts Set New Price Targets

NIO has been the subject of a number of research analyst reports. Citigroup cut 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. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price objective for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.11.

NIO Stock Performance

The company’s fifty day simple moving average is $5.48 and its 200-day simple moving average is $4.90. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. Analysts expect that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in shares of NIO in the 2nd quarter worth about $1,076,000. International Assets Investment Management LLC grew its stake in NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares during the last quarter. Signaturefd LLC increased its holdings in shares of NIO by 16.9% during the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after buying an additional 7,014 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NIO by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after acquiring an additional 439,474 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.