NIO (NYSE:NIO) Stock Price Down 0.5% - Should You Sell?

Nio Inc - (NYSE:NIO - Get Free Report) shares dropped 0.5% on Wednesday . The stock traded as low as $5.47 and last traded at $5.59. Approximately 16,224,592 shares changed hands during trading, a decline of 71% from the average daily volume of 56,560,102 shares. The stock had previously closed at $5.62.

Wall Street Analyst Weigh In

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

NIO Price Performance

The company has a market cap of $9.48 billion, a PE ratio of -3.26 and a beta of 1.86. 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 company's 50-day simple moving average is $5.07 and its 200 day simple moving average is $4.80.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts' consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The firm had revenue of $17.45 billion during the quarter, compared to analysts' expectations of $17.49 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. NIO's quarterly revenue was up 98.9% compared to the same quarter last year. On average, sell-side analysts predict that Nio Inc - will post -1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Avaii Wealth Management LLC purchased a new position in NIO during the third quarter worth about $285,000. Creative Planning lifted its stake in shares of NIO by 8.3% in the third quarter. Creative Planning now owns 290,558 shares of the company's stock worth $1,941,000 after acquiring an additional 22,240 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of NIO during the third quarter worth approximately $92,000. Atomi Financial Group Inc. increased its position in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock worth $129,000 after purchasing an additional 2,588 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its stake in NIO by 23.1% during the third quarter. Green Alpha Advisors LLC now owns 73,413 shares of the company's stock valued at $490,000 after buying an additional 13,773 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.