NIO (NYSE:NIO) Shares Down 2.9% – Should You Sell?

Nio Inc – (NYSE:NIO) was down 2.9% during trading on Friday . The stock traded as low as $3.49 and last traded at $3.52. Approximately 19,445,337 shares traded hands during trading, a decline of 63% from the average daily volume of 52,606,108 shares. The stock had previously closed at $3.62.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. Mizuho lowered their price objective on shares of NIO from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, June 3rd. Citigroup reaffirmed a “buy” rating on shares of NIO in a report on Monday, April 28th. Finally, Barclays reduced their target price on NIO from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.76.

NIO Stock Performance

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average is $3.78 and its 200 day moving average is $4.17. The company has a market cap of $7.34 billion, a P/E ratio of -2.33 and a beta of 1.62.

NIO (NYSE:NIO) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $12.46 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.39) earnings per share. As a group, equities analysts predict that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after buying an additional 5,185,565 shares during the period. SG Americas Securities LLC increased its position in shares of NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company’s stock valued at $8,038,000 after acquiring an additional 958,750 shares during the period. Bridgewater Associates LP increased its position in shares of NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. Hsbc Holdings PLC raised its stake in shares of NIO by 96.6% during the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock valued at $3,964,000 after acquiring an additional 510,610 shares during the last quarter. Finally, SIH Partners LLLP boosted its holdings in shares of NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company’s stock worth $4,071,000 after purchasing an additional 175,000 shares during the period. Institutional investors 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.