NIO (NYSE:NIO) Stock Price Down 3% – Should You Sell?

NIO Inc. (NYSE:NIO)’s stock price was down 3% during mid-day trading on Thursday . The company traded as low as $6.20 and last traded at $6.2850. Approximately 32,086,813 shares changed hands during trading, a decline of 27% from the average daily volume of 44,106,387 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NIO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research note on Wednesday, March 11th. HSBC raised NIO from a “hold” rating to a “buy” rating and raised their price objective for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Finally, Bank of America reaffirmed a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.80.

NIO Stock Down 3.0%

The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08. The company’s fifty day simple moving average is $5.67 and its 200 day simple moving average is $5.65. The firm has a market capitalization of $14.44 billion, a PE ratio of -6.48 and a beta of 0.99.

NIO (NYSE:NIO) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.04 EPS for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The business had revenue of $4.95 billion during the quarter. Analysts anticipate that NIO Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of NIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aspex Management HK Ltd purchased a new position in shares of NIO during the third quarter valued at approximately $266,700,000. WT Asset Management Ltd purchased a new position in shares of NIO during the third quarter valued at approximately $142,120,000. Voloridge Investment Management LLC lifted its holdings in shares of NIO by 14.4% during the fourth quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after purchasing an additional 1,694,023 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of NIO during the third quarter valued at approximately $91,440,000. Finally, RWC Asset Advisors US LLC purchased a new position in shares of NIO during the third quarter valued at approximately $79,761,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

About NIO

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.