NIO (NYSE:NIO) Shares Down 4.7% – Should You Sell?

Nio Inc – (NYSE:NIO)’s stock price was down 4.7% on Friday . The company traded as low as $5.02 and last traded at $5.06. Approximately 25,011,838 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 56,538,484 shares. The stock had previously closed at $5.31.

Analysts Set New Price Targets

A number of analysts have weighed in on NIO shares. JPMorgan Chase & Co. upgraded 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 research report on Friday, September 6th. Bank of America upped their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.11.

NIO Stock Down 4.5 %

The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.72 billion, a P/E ratio of -3.33 and a beta of 1.91. The firm has a fifty day moving average price of $5.53 and a 200 day moving average price of $4.91.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 98.9% compared to the same quarter last year. Equities research analysts forecast that Nio Inc – will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently added to or reduced their stakes in NIO. Point72 Asset Management L.P. lifted its stake in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the period. Swedbank AB acquired a new position in NIO in the first quarter valued at about $5,343,000. SG Americas Securities LLC lifted its stake in NIO by 64.6% in the first quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock valued at $8,530,000 after buying an additional 744,067 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in NIO by 28.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after buying an additional 535,400 shares during the period. Finally, Krane Funds Advisors LLC lifted its stake in NIO by 31.7% in the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after buying an additional 370,556 shares during the period. Institutional investors and hedge funds 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.