NIO (NYSE:NIO) Shares Down 4.9% – Time to Sell?

Shares of NIO Inc. (NYSE:NIO) traded down 4.9% on Wednesday . The company traded as low as $4.73 and last traded at $4.7850. 93,830,523 shares changed hands during trading, an increase of 57% from the average session volume of 59,657,402 shares. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Macquarie set a $5.30 target price on NIO in a research report on Tuesday, November 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price target on shares of NIO in a report on Thursday, October 30th. Mizuho raised their price objective on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Bank of America lifted their price target on shares of NIO from $5.00 to $7.10 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NIO has an average rating of “Hold” and an average price target of $6.73.

NIO Trading Down 4.9%

The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of -3.30 and a beta of 1.04. The business’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $5.40. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, September 2nd. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). NIO had a negative return on equity of 1,085.61% and a negative net margin of 31.17%.The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period in the previous year, the business posted ($2.21) earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Research analysts anticipate that NIO Inc. will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in shares of NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after buying an additional 2,877 shares during the last quarter. Hedeker Wealth LLC acquired a new position in shares of NIO in the 2nd quarter valued at about $43,000. Allworth Financial LP lifted its stake in shares of NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after purchasing an additional 4,269 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in NIO in the 2nd quarter valued at about $56,000. Finally, Brooklyn Investment Group grew its holdings in NIO by 4,297.2% during the 1st quarter. Brooklyn Investment Group now owns 15,434 shares of the company’s stock worth $59,000 after acquiring an additional 15,083 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.