NIO (NYSE:NIO) Shares Down 0.5% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price dropped 0.5% on Wednesday . The stock traded as low as $5.47 and last traded at $5.59. Approximately 16,224,592 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 56,560,102 shares. The stock had previously closed at $5.62.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America boosted their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Citigroup dropped their price objective 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.93.

NIO Price Performance

The stock has a market capitalization of $9.56 billion, a PE ratio of -3.31 and a beta of 1.86. 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 business has a fifty day moving average price of $5.03 and a 200-day moving average price of $4.79.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) earnings per share. Research analysts expect that Nio Inc – will post -1.37 EPS for the current fiscal year.

Institutional Trading of NIO

A number of large investors have recently made changes to their positions in NIO. Creative Planning boosted its holdings in shares of NIO by 8.3% in the third quarter. Creative Planning now owns 290,558 shares of the company’s stock valued at $1,941,000 after acquiring an additional 22,240 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of NIO in the 3rd quarter worth $92,000. Atomi Financial Group Inc. lifted its stake in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after purchasing an additional 2,588 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of NIO by 23.1% in the third quarter. Green Alpha Advisors LLC now owns 73,413 shares of the company’s stock worth $490,000 after acquiring an additional 13,773 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in NIO in the third quarter worth about $286,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.