NIO (NYSE:NIO) Stock Price Down 0.5% - Time to Sell?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) were down 0.5% during trading on Wednesday . The stock traded as low as $5.10 and last traded at $5.17. Approximately 15,790,606 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 55,043,970 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NIO shares. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIO has a consensus rating of "Hold" and an average target price of $5.03.

NIO Stock Performance

The company has a fifty day moving average price of $4.43 and a 200 day moving average price of $4.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $9.40 billion, a P/E ratio of -2.98 and a beta of 1.81.

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NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data 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 net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the business earned ($2.81) earnings per share. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts expect that Nio Inc - will post -1.43 EPS for the current year.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after buying an additional 132,237 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in NIO in the 4th quarter worth about $1,360,000. AlphaStar Capital Management LLC bought a new stake in shares of NIO during the fourth quarter valued at about $537,000. FMR LLC lifted its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in NIO during the third quarter valued at approximately $1,327,000. 48.55% of the stock is owned by hedge funds and other 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.