NIO (NYSE:NIO) Shares Down 3.1% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report) dropped 3.1% during mid-day trading on Friday . The stock traded as low as $3.54 and last traded at $3.57. Approximately 15,079,199 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 53,243,842 shares. The stock had previously closed at $3.68.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NIO. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. Mizuho lowered their price target on shares of NIO from $4.20 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup restated a "buy" rating on shares of NIO in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NIO presently has an average rating of "Hold" and a consensus target price of $5.05.

NIO Stock Down 3.5%

The business's 50 day moving average price is $3.79 and its 200-day moving average price is $4.24. The firm has a market capitalization of $7.41 billion, a PE ratio of -2.35 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO's revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted ($2.81) earnings per share. As a group, equities research analysts forecast that Nio Inc - will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On NIO

Several large investors have recently added to or reduced their stakes in the business. PDS Planning Inc increased its stake in NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after buying an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock worth $59,000 after acquiring an additional 2,712 shares in the last quarter. Franklin Resources Inc. grew its holdings in NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock worth $72,000 after acquiring an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after acquiring an additional 2,867 shares in the last quarter. Finally, Tempus Wealth Planning LLC grew its holdings in NIO by 7.4% during the 1st quarter. Tempus Wealth Planning LLC now owns 42,710 shares of the company's stock worth $163,000 after acquiring an additional 2,943 shares in the last quarter. 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.