NIO (NYSE:NIO) Shares Down 1.7% – Should You Sell?

NIO Inc. (NYSE:NIO) fell 1.7% during trading on Wednesday . The stock traded as low as $4.93 and last traded at $4.9750. Approximately 27,314,258 shares were traded during trading, a decline of 33% from the average daily volume of 40,947,438 shares. The stock had previously closed at $5.06.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research note on Wednesday, March 11th. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. HSBC raised NIO from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Finally, Bank of America reissued a “neutral” rating and issued a $6.80 price objective on shares of NIO in a report on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $6.70.

NIO Trading Up 0.1%

The company has a market cap of $11.90 billion, a price-to-earnings ratio of -8.71 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The company’s 50-day moving average is $5.59 and its 200 day moving average is $5.38.

NIO (NYSE:NIO) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The company had revenue of $4.95 billion during the quarter. Research analysts predict that NIO Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On NIO

Large investors have recently bought and sold shares of the business. Ghisallo Capital Management LLC purchased a new position in shares of NIO during the 3rd quarter valued at approximately $91,440,000. HUB Investment Partners LLC acquired a new stake in NIO in the 3rd quarter valued at $1,758,000. SG Americas Securities LLC increased its holdings in NIO by 89.9% in the 4th quarter. SG Americas Securities LLC now owns 3,006,407 shares of the company’s stock worth $15,333,000 after acquiring an additional 1,423,350 shares in the last quarter. Centiva Capital LP increased its holdings in NIO by 198.4% in the 3rd quarter. Centiva Capital LP now owns 567,379 shares of the company’s stock worth $4,323,000 after acquiring an additional 377,268 shares in the last quarter. Finally, Havemeyer Place LP acquired a new position in NIO during the fourth quarter worth $1,985,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.