NIO (NYSE:NIO) Stock Price Down 2.9% - Should You Sell?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price dropped 2.9% during trading on Friday . The company traded as low as $3.49 and last traded at $3.52. Approximately 19,445,337 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 52,606,108 shares. The stock had previously closed at $3.62.

Analyst Ratings Changes

NIO has been the subject of a number of 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 research note on Tuesday, June 3rd. Cfra Research raised shares of NIO to a "hold" rating in a research note on Friday, March 21st. Finally, Barclays decreased 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $4.76.

NIO Trading Down 2.9%

The firm has a market capitalization of $7.34 billion, a PE ratio of -2.33 and a beta of 1.62. The stock's 50-day moving average price is $3.78 and its 200 day moving average price is $4.17. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business's revenue was up 21.5% compared to the same quarter last year. During the same period last year, the business posted ($2.39) earnings per share. On average, sell-side 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 worth $20,255,000 after purchasing an additional 5,185,565 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of NIO by 83.3% during the first 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 fourth quarter valued at $3,305,000. Hsbc Holdings PLC grew its holdings in shares of NIO by 96.6% during the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock valued at $3,964,000 after buying an additional 510,610 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of NIO during the fourth quarter valued at $1,776,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.