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

Nio Inc - (NYSE:NIO - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.82, but opened at $3.72. NIO shares last traded at $3.70, with a volume of 10,751,004 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NIO shares. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Cfra Research upgraded NIO to a "hold" rating in a research report on Friday, March 21st. Citigroup restated a "buy" rating on shares of NIO in a report on Monday, April 28th. Finally, Mizuho dropped their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIO has a consensus rating of "Hold" and an average target price of $5.05.

NIO Stock Up 0.4%

The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of -2.44 and a beta of 1.73. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $3.81 and a two-hundred day moving average price of $4.25.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.81) EPS. As a group, sell-side analysts expect that Nio Inc - will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PDS Planning Inc boosted its position in NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock worth $59,000 after purchasing an additional 2,712 shares in the last quarter. Franklin Resources Inc. raised its holdings in NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock worth $72,000 after acquiring an additional 2,788 shares during the period. Perigon Wealth Management LLC boosted its position in shares of NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after acquiring an additional 2,867 shares during the period. Finally, Tempus Wealth Planning LLC grew its position in NIO by 7.4% during the first quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company's stock worth $163,000 after buying an additional 2,943 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.