NIO (NYSE:NIO) Trading Down 1.3% - Time to Sell?

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price dropped 1.3% during trading on Thursday . The company traded as low as $3.42 and last traded at $3.43. Approximately 9,533,126 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 52,581,852 shares. The stock had previously closed at $3.47.

Analyst Upgrades and Downgrades

NIO has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Mizuho dropped their price objective on shares of NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Finally, Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Stock Up 1.3%

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The business's 50 day moving average is $3.78 and its 200 day moving average is $4.09.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. During the same quarter in the previous year, the firm posted ($2.39) earnings per share. The company's quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that NIO Inc. will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently bought and sold shares of NIO. US Bancorp DE lifted its position in NIO by 10.6% during the fourth quarter. US Bancorp DE now owns 97,406 shares of the company's stock valued at $425,000 after purchasing an additional 9,298 shares during the period. Jones Financial Companies Lllp lifted its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. SBI Securities Co. Ltd. acquired a new position in NIO during the fourth quarter valued at $1,360,000. WMG Financial Advisors LLC lifted its position in NIO by 37.7% during the fourth quarter. WMG Financial Advisors LLC now owns 381,535 shares of the company's stock valued at $1,663,000 after purchasing an additional 104,478 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in NIO during the fourth quarter valued at $1,776,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.