NIO (NYSE:NIO) Shares Down 5.3% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report) dropped 5.3% during mid-day trading on Thursday . The company traded as low as $5.18 and last traded at $5.22. Approximately 24,326,770 shares changed hands during trading, a decline of 57% from the average daily volume of 56,552,512 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

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

NIO Stock Down 6.5 %

The firm's 50 day moving average price is $5.10 and its two-hundred day moving average price is $4.80. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $8.85 billion, a P/E ratio of -3.05 and a beta of 1.86.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $17.49 billion. During the same period in the previous year, the business earned ($0.51) EPS. The company's revenue was up 98.9% compared to the same quarter last year. Equities research analysts forecast that Nio Inc - will post -1.37 EPS for the current year.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its stake in NIO by 2.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company's stock valued at $371,000 after purchasing an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of NIO by 13.9% in the first quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company's stock valued at $75,000 after buying an additional 2,038 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock worth $129,000 after acquiring an additional 2,588 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock worth $61,000 after acquiring an additional 2,651 shares during the last quarter. Finally, First Affirmative Financial Network raised its stake in NIO by 26.4% in the 1st quarter. First Affirmative Financial Network now owns 13,256 shares of the company's stock valued at $60,000 after acquiring an additional 2,768 shares during the period. Institutional investors 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.