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

Nio Inc - (NYSE:NIO - Get Free Report) shares dropped 3.2% during mid-day trading on Wednesday . The stock traded as low as $3.42 and last traded at $3.51. Approximately 9,700,487 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 56,043,214 shares. The stock had previously closed at $3.62.

Analysts Set New Price Targets

Several analysts recently weighed in on NIO shares. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Citigroup dropped their target price on shares of NIO from $8.90 to $8.10 and set a "buy" rating for the company in a report on Monday, March 24th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. Finally, Mizuho decreased their target price on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.05.

NIO Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market cap of $7.36 billion, a P/E ratio of -2.33 and a beta of 1.74. The company's 50 day moving average price is $4.18 and its 200-day moving average price is $4.61.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the firm posted ($2.81) EPS. The company's quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently modified their holdings of NIO. SBI Securities Co. Ltd. bought a new stake in NIO during the fourth quarter valued at $1,360,000. AlphaStar Capital Management LLC bought a new stake in NIO in the fourth quarter worth approximately $537,000. Arizona PSPRS Trust acquired a new position in NIO in the fourth quarter valued at approximately $1,330,000. Principal Financial Group Inc. boosted its holdings in shares of NIO by 140.2% during the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock worth $502,000 after buying an additional 43,839 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of NIO in the 4th quarter valued at $1,776,000. 48.55% of the stock is owned by institutional investors.

About NIO

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.