NIO (NYSE:NIO) Shares Down 1.5% – Time to Sell?

Nio Inc – (NYSE:NIO) dropped 1.5% during trading on Tuesday . The stock traded as low as $4.52 and last traded at $4.60. Approximately 26,136,404 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 56,451,168 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $6.60 to $4.80 in a report on Wednesday. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Finally, Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.91.

NIO Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a 50-day moving average price of $5.52 and a 200 day moving average price of $4.91.

NIO (NYSE:NIO) last issued its earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. NIO’s quarterly revenue was up 98.9% compared to the same quarter last year. Equities analysts expect that Nio Inc – will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NIO. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the third quarter worth about $32,000. Ridgewood Investments LLC bought a new position in shares of NIO in the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO during the third quarter valued at approximately $76,000. Apollon Wealth Management LLC acquired a new stake in NIO in the third quarter worth approximately $78,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in NIO in the second quarter worth approximately $53,000. Institutional investors own 48.55% of the company’s stock.

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.