NIO (NYSE:NIO) Stock Price Down 5.1% - Should You Sell?

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 5.1% during trading on Wednesday . The company traded as low as $3.97 and last traded at $4.04. Approximately 36,102,661 shares were traded during trading, a decline of 32% from the average daily volume of 52,984,064 shares. The stock had previously closed at $4.25.

Analysts Set New Price Targets

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

NIO Stock Down 0.2%

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 firm's 50 day moving average is $3.72 and its two-hundred day moving average is $4.02. The firm has a market cap of $9.16 billion, a P/E ratio of -2.71 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.39) EPS. As a group, research analysts anticipate that NIO Inc. will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NIO by 3,966.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock valued at $20,255,000 after acquiring an additional 5,185,565 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of NIO in the second quarter valued at about $12,315,000. SG Americas Securities LLC boosted its position in shares of NIO by 83.3% in the first 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 period. Bridgewater Associates LP boosted its position in shares of NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of NIO by 96.6% in the first 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 period. 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.