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

Shares of Nio Inc – (NYSE:NIO) gapped down before the market opened on Monday . The stock had previously closed at $5.22, but opened at $5.09. NIO shares last traded at $5.19, with a volume of 8,048,342 shares trading hands.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. 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. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research started coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.93.

NIO Stock Performance

The stock has a fifty day moving average price of $5.21 and a 200-day moving average price of $4.82. 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 firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of -3.09 and a beta of 1.86.

NIO (NYSE:NIO) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The company 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 business’s revenue was up 98.9% on a year-over-year basis. During the same period last year, the business earned ($0.51) earnings per share. As a group, analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Allspring Global Investments Holdings LLC bought a new stake in shares of NIO during the third quarter worth approximately $32,000. Ridgewood Investments LLC bought a new position in shares of NIO in the 2nd quarter worth $25,000. Sound Income Strategies LLC boosted its position in shares of 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 during the last quarter. Perigon Wealth Management LLC bought a new stake in NIO in the first quarter valued at about $51,000. Finally, Edge Wealth Management LLC bought a new position in NIO during the first quarter worth about $54,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.