NIO (NYSE:NIO) Stock Price Down 3.2% – Time to Sell?

Shares of NIO Inc. (NYSE:NIO) traded down 3.2% during mid-day trading on Tuesday . The stock traded as low as $6.43 and last traded at $6.4450. 31,712,997 shares were traded during mid-day trading, a decline of 29% from the average session volume of 44,562,262 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research report 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 report on Wednesday, March 11th. HSBC raised NIO from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.80 to $6.80 in a research report on Friday, March 13th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective on the stock in a research report on Thursday, January 15th. Finally, Bank of America reaffirmed a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.80.

NIO Price Performance

The firm has a fifty day moving average price of $5.61 and a two-hundred day moving average price of $5.65. The stock has a market capitalization of $14.81 billion, a P/E ratio of -6.64 and a beta of 0.99. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98.

NIO (NYSE:NIO) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $4.95 billion for the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%. As a group, analysts expect that NIO Inc. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently modified their holdings of NIO. Atlantic Union Bankshares Corp lifted its holdings in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after buying an additional 2,950 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 valued at $37,000 after buying an additional 2,877 shares during the period. Arax Advisory Partners lifted its holdings in shares of NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after buying an additional 3,487 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of NIO during the 4th quarter valued at $41,000. Finally, MV Capital Management Inc. bought a new position in shares of NIO during the 4th quarter valued at $42,000. 48.55% of the stock is owned by 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.