NIO (NYSE:NIO) Stock Price Down 2.8% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price dropped 2.8% during mid-day trading on Thursday . The company traded as low as $3.99 and last traded at $4.02. Approximately 8,846,315 shares traded hands during trading, a decline of 84% from the average daily volume of 54,292,757 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

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

NIO Stock Down 3.5%

The company has a market cap of $8.32 billion, a P/E ratio of -2.64 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a 50 day moving average of $4.03 and a 200-day moving average of $4.36.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Friday, March 21st. The company reported ($0.47) EPS 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 during the quarter, compared to analysts' expectations of $20.19 billion. During the same period in the prior year, the company posted ($2.81) earnings per share. The company's revenue was up 15.2% 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.

Institutional Trading of NIO

Several institutional investors have recently made changes to their positions in the business. Rafferty Asset Management LLC boosted its stake in NIO by 38.9% in the 1st quarter. Rafferty Asset Management LLC now owns 50,109 shares of the company's stock worth $191,000 after purchasing an additional 14,028 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of NIO by 49.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company's stock worth $70,000 after purchasing an additional 6,078 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of NIO by 25.5% in the first quarter. Compound Planning Inc. now owns 33,746 shares of the company's stock valued at $129,000 after acquiring an additional 6,865 shares during the period. Hsbc Holdings PLC boosted its holdings in 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 purchasing an additional 510,610 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in NIO by 4,297.2% in the first quarter. Brooklyn Investment Group now owns 15,434 shares of the company's stock valued at $59,000 after purchasing an additional 15,083 shares during the last quarter. Hedge funds and other 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.

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