NIO (NYSE:NIO) Trading Down 3.9% – Should You Sell?

by · The Cerbat Gem

Nio Inc – (NYSE:NIO – Get Free Report)’s share price dropped 3.9% during mid-day trading on Thursday . The company traded as low as $4.98 and last traded at $4.99. Approximately 19,602,977 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 56,376,738 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Analysis on NIO

NIO Stock Up 5.5 %

The company has a market cap of $9.03 billion, a price-to-earnings ratio of -3.11 and a beta of 1.86. 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 business has a 50-day simple moving average of $5.29 and a 200-day simple moving average of $4.83.

NIO (NYSE:NIO – Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $17.49 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. The firm’s quarterly revenue was up 98.9% on a year-over-year basis. On average, equities analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIO

Several large investors have recently bought and sold shares of NIO. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO during the 3rd quarter worth about $32,000. Ridgewood Investments LLC acquired a new position in NIO in the second quarter valued at approximately $25,000. Perigon Wealth Management LLC purchased a new position in NIO in the first quarter valued at approximately $51,000. First Trust Direct Indexing L.P. acquired a new stake in NIO during the third quarter worth approximately $76,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of NIO during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

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.

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