NIO (NYSE:NIO) Trading Down 0.6% – Should You Sell?

Nio Inc – (NYSE:NIO)’s stock price traded down 0.6% during mid-day trading on Friday . The company traded as low as $6.03 and last traded at $6.18. 14,941,447 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 56,429,785 shares. The stock had previously closed at $6.22.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NIO. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America lifted their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.93.

NIO Stock Up 0.3 %

The stock has a fifty day moving average price of $4.99 and a 200-day moving average price of $4.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $10.73 billion, a PE ratio of -4.11 and a beta of 1.86.

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

Institutional Investors Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. Renaissance Technologies LLC purchased a new stake in shares of NIO during the second quarter valued at approximately $1,076,000. Bank of New York Mellon Corp boosted its position in NIO by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after buying an additional 343,910 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NIO by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock valued at $10,430,000 after acquiring an additional 439,474 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of NIO by 127.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company’s stock valued at $1,704,000 after acquiring an additional 211,936 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of NIO by 28.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after acquiring an additional 535,400 shares during the last quarter. 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.