NIO (NYSE:NIO) Shares Down 3.2% – Should You Sell?

Nio Inc – (NYSE:NIO) dropped 3.2% during trading on Wednesday . The company traded as low as $3.42 and last traded at $3.51. Approximately 9,700,487 shares traded hands during trading, a decline of 83% from the average daily volume of 56,043,214 shares. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Citigroup reduced their price objective on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Mizuho decreased their target price on NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, Cfra Research upgraded shares of NIO to a “hold” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.05.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock’s fifty day moving average is $4.21 and its two-hundred day moving average is $4.64. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of -2.32 and a beta of 1.74.

NIO (NYSE:NIO) last released its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.81) EPS. Analysts forecast that Nio Inc – will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in shares of NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company’s stock valued at $8,038,000 after purchasing an additional 958,750 shares during the last quarter. Bridgewater Associates LP lifted its holdings in NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock worth $5,170,000 after purchasing an additional 263,338 shares during the last quarter. Swedbank AB boosted its position in NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares during the period. SIH Partners LLLP grew its holdings in NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company’s stock valued at $4,071,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of NIO in the fourth quarter worth $3,305,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.