NIO (NYSE:NIO) Trading Down 3.9% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price dropped 3.9% on Friday . The stock traded as low as $3.81 and last traded at $3.83. Approximately 30,211,948 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 55,370,170 shares. The stock had previously closed at $3.98.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Mizuho cut their target price on shares of NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research report on Monday, March 24th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Citigroup cut their price objective on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research report on Monday, March 24th. Finally, Cfra Research upgraded NIO to a "hold" rating in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIO currently has a consensus rating of "Hold" and an average target price of $5.00.

NIO Stock Up 1.7 %

The firm has a market cap of $7.96 billion, a price-to-earnings ratio of -2.53 and a beta of 1.81. 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 firm has a fifty day moving average price of $4.43 and a 200-day moving average price of $4.83.

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

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently bought and sold shares of NIO. Blue Trust Inc. grew its stake in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after acquiring an additional 4,332 shares during the last quarter. Callan Family Office LLC purchased a new stake in NIO during the fourth quarter valued at about $44,000. Sava Infond d.o.o. acquired a new stake in NIO during the fourth quarter worth about $44,000. Finally, Trilogy Capital Inc. purchased a new position in shares of NIO in the 4th quarter worth about $45,000. Institutional investors and hedge funds 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.