NIO (NYSE:NIO) Trading Down 1.9% - Time to Sell?

Shares of NIO Inc. (NYSE:NIO - Get Free Report) traded down 1.9% on Monday . The company traded as low as $3.41 and last traded at $3.45. 11,135,587 shares were traded during trading, a decline of 79% from the average session volume of 52,159,206 shares. The stock had previously closed at $3.51.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup restated a "buy" rating on shares of NIO in a research note on Monday, April 28th. Mizuho cut their target price on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. Barclays lowered their price target on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and upped their price target for the company from $3.70 to $3.80 in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.74.

NIO Trading Up 6.3%

The business has a 50 day simple moving average of $3.69 and a 200-day simple moving average of $4.03. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -2.28 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. During the same period in the previous year, the business posted ($2.39) earnings per share. The firm's quarterly revenue was up 21.5% on a year-over-year basis. On average, equities analysts predict that NIO Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently modified their holdings of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after purchasing an additional 5,185,565 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after acquiring an additional 958,750 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of NIO in the 4th quarter valued at approximately $3,305,000. Hsbc Holdings PLC increased its holdings in shares of NIO by 96.6% in the 1st quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock valued at $3,964,000 after acquiring an additional 510,610 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of NIO in the 4th quarter valued at approximately $1,776,000. 48.55% of the stock is 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.