NIO (NYSE:NIO) Stock Price Down 3% – Should You Sell?

Shares of NIO Inc. (NYSE:NIO) dropped 3% during mid-day trading on Thursday . The stock traded as low as $6.20 and last traded at $6.2850. Approximately 32,086,813 shares changed hands during trading, a decline of 27% from the average daily volume of 44,106,387 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

NIO has been the subject of several recent research reports. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price for the company in a report on Wednesday, March 11th. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Bank of America reiterated a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price for the company in a report on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.80.

NIO Stock Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. The firm has a market cap of $14.44 billion, a P/E ratio of -6.48 and a beta of 0.99. The business’s 50-day simple moving average is $5.67 and its 200 day simple moving average is $5.65.

NIO (NYSE:NIO) last posted its earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The business had revenue of $4.95 billion during the quarter. As a group, equities analysts predict that NIO Inc. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Large investors have recently added to or reduced their stakes in the stock. WT Asset Management Ltd bought a new stake in NIO in the 3rd quarter worth approximately $142,120,000. ABC Arbitrage SA bought a new stake in NIO in the 3rd quarter worth approximately $1,857,000. Ghisallo Capital Management LLC bought a new stake in NIO in the 3rd quarter worth approximately $91,440,000. HUB Investment Partners LLC bought a new stake in NIO in the 3rd quarter worth approximately $1,758,000. Finally, RWC Asset Advisors US LLC bought a new stake in NIO in the 3rd quarter worth approximately $79,761,000. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

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.