NIO (NYSE:NIO) Shares Down 0.6% - Should You Sell?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price traded down 0.6% on Friday . The company traded as low as $6.03 and last traded at $6.18. 14,941,447 shares were traded during mid-day trading, a decline of 74% from the average session volume of 56,429,785 shares. The stock had previously closed at $6.22.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on NIO in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. Bank of America raised their price objective on NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Daiwa America raised NIO to a "strong-buy" rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.93.

NIO Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of -4.11 and a beta of 1.86. The company has a 50-day moving average of $4.99 and a 200-day moving average of $4.78.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company's quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) EPS. As a group, equities research analysts expect that Nio Inc - will post -1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NIO. Renaissance Technologies LLC purchased a new stake in shares of NIO during the 2nd quarter valued at $1,076,000. Bank of New York Mellon Corp boosted its position in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company's stock worth $5,894,000 after purchasing an additional 343,910 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company's stock worth $10,430,000 after purchasing an additional 439,474 shares during the period. Electron Capital Partners LLC boosted its position in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock worth $40,180,000 after purchasing an additional 235,521 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in NIO by 127.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company's stock worth $1,704,000 after buying an additional 211,936 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.