NIO (NYSE:NIO) Stock Price Down 1.6% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report) shares were down 1.6% on Monday . The company traded as low as $3.94 and last traded at $3.97. Approximately 7,420,881 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 55,217,552 shares. The stock had previously closed at $4.03.

Analysts Set New Price Targets

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

NIO Stock Performance

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $4.04 and a 200-day moving average price of $4.38. The firm has a market capitalization of $8.27 billion, a PE ratio of -2.62 and a beta of 1.73.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company earned ($2.81) earnings per share. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. Analysts expect that Nio Inc - will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

Several hedge funds have recently bought and sold shares of NIO. PDS Planning Inc increased its position in shares of NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after acquiring an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in NIO by 25.3% during the 4th 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 during the period. Franklin Resources Inc. increased its holdings in NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC raised its position in 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 purchasing an additional 2,867 shares during the period. Finally, Tempus Wealth Planning LLC lifted its stake in shares of 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 purchasing an additional 2,943 shares in the last quarter. 48.55% of the stock is 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.