NIO (NYSE:NIO) Trading Down 1.8% - Time to Sell?

Key Points

• NIO's stock price declined by 1.8%, trading at $4.75 with a significant drop in trading volume by 71% from its average.
• Analysts have mixed ratings on NIO, with one sell rating, nine hold ratings, two buy ratings, and a consensus target price of $4.74, while Barclays lowered its target price to $3.00.
• For the most recent quarter, NIO reported an earnings per share of ($0.45), falling short of analysts' expectations, while revenue increased by 21.5% year-over-year, reaching $1.66 billion.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 1.8% during trading on Tuesday . The stock traded as low as $4.71 and last traded at $4.75. Approximately 14,525,299 shares traded hands during trading, a decline of 71% from the average daily volume of 50,467,586 shares. The stock had previously closed at $4.83.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays reduced their target price on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, June 4th. Citigroup reissued a "buy" rating on shares of NIO in a report on Monday, April 28th. Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a research report on Monday, July 14th. The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and upped their target price for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Finally, Mizuho reduced their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Price Performance

The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of -2.92 and a beta of 1.55. The company has a fifty day moving average price of $3.81 and a two-hundred day moving average price of $4.03.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. During the same period last year, the company posted ($2.39) earnings per share. The business's quarterly revenue was up 21.5% on a year-over-year basis. On average, equities research analysts expect 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 bought and sold shares of NIO. Xponance Inc. purchased a new stake in shares of NIO during the first quarter valued at approximately $39,000. Blueshift Asset Management LLC purchased a new stake in NIO during the 1st quarter worth $43,000. Annex Advisory Services LLC acquired a new position in NIO in the 1st quarter worth $47,000. May Hill Capital LLC purchased a new position in NIO in the 1st quarter valued at about $48,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of NIO during the first quarter valued at about $50,000. 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.

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