NIO (NYSE:NIO) Trading Down 1.4% – Time to Sell?

Shares of Nio Inc – (NYSE:NIO) were down 1.4% on Monday . The stock traded as low as $4.64 and last traded at $4.77. Approximately 23,878,189 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 56,746,316 shares. The stock had previously closed at $4.84.

Wall Street Analyst Weigh In

A number of brokerages have commented on NIO. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Bank of America raised their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Citigroup dropped their price target 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, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.71.

NIO Price Performance

The firm has a market cap of $8.03 billion, a price-to-earnings ratio of -3.09 and a beta of 1.91. The company’s fifty day moving average is $5.49 and its 200 day moving average is $4.90. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. During the same quarter last year, the company earned ($0.51) EPS. NIO’s revenue for the quarter was up 98.9% compared to the same quarter last year. On average, equities research analysts predict that Nio Inc – will post -1.39 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently made changes to their positions in NIO. FMR LLC grew its holdings in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the period. Swedbank AB acquired a new position in shares of NIO during the 1st quarter worth approximately $5,343,000. Point72 Hong Kong Ltd bought a new stake in NIO in the 3rd quarter valued at $4,879,000. Finally, Quadrature Capital Ltd lifted its holdings in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the last quarter. 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.