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

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 1.6% on Wednesday . The company traded as low as $3.45 and last traded at $3.45. Approximately 9,523,792 shares traded hands during trading, a decline of 82% from the average daily volume of 52,592,286 shares. The stock had previously closed at $3.50.

Analyst Ratings Changes

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

NIO Trading Up 1.3%

The business's fifty day simple moving average is $3.78 and its 200 day simple moving average is $4.09. 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 stock has a market cap of $7.23 billion, a P/E ratio of -2.14 and a beta of 1.62.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results 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 last year, the business posted ($2.39) earnings per share. The business's quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts expect that NIO Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NIO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of NIO by 3,966.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock worth $20,255,000 after buying an additional 5,185,565 shares in the last quarter. SG Americas Securities LLC raised its position in NIO by 83.3% in the 1st quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after buying an additional 958,750 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of NIO during the 4th quarter valued at $3,305,000. Hsbc Holdings PLC increased its position in shares of NIO by 96.6% during 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 during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of NIO during the 4th quarter valued at $1,776,000. Institutional investors and hedge funds 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.