NIO (NYSE:NIO) Trading Down 3.4% – Should You Sell?

NIO Inc. (NYSE:NIO)’s stock price fell 3.4% during mid-day trading on Wednesday . The company traded as low as $4.90 and last traded at $4.9150. 25,356,039 shares changed hands during trading, a decline of 39% from the average daily volume of 41,525,441 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

Several brokerages recently weighed in on NIO. Nomura upgraded 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Bank of America reiterated a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. HSBC raised NIO from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $6.70.

NIO Stock Down 3.4%

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. The company has a market capitalization of $12.20 billion, a P/E ratio of -8.94 and a beta of 0.92. The company has a 50 day moving average of $5.83 and a 200-day moving average of $5.39.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.08. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. NIO had a negative return on equity of 318.96% and a negative net margin of 8.78%.NIO’s revenue was up 112.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) EPS. As a group, equities analysts anticipate that NIO Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On NIO

Hedge funds have recently made changes to their positions in the business. DV Trading LLC raised its holdings in shares of NIO by 134.1% during the first quarter. DV Trading LLC now owns 16,386 shares of the company’s stock valued at $99,000 after acquiring an additional 9,386 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in NIO by 71.6% in the first quarter. Glenmede Trust Co. NA now owns 22,063 shares of the company’s stock valued at $133,000 after acquiring an additional 9,204 shares in the last quarter. Bank of America Corp DE increased its position in NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the period. Centaurus Financial Inc. purchased a new position in NIO during the 1st quarter valued at $1,793,000. Finally, EverSource Wealth Advisors LLC increased its position in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after purchasing an additional 4,383 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.