NIO (NYSE:NIO) Hits New 12-Month Low - Time to Sell?

Key Points

• NIO shares fell to a new 52-week low of $3.36, closing around $3.385 and trading below both their 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans cautious: the stock has six Buy, seven Hold and two Sell ratings, with an average rating of “Hold” and a consensus price target of $5.87.
• NIO remains financially challenged, reporting negative return on equity and net margin, while analysts expect a full-year loss of $0.13 per share; institutional investors own 48.55% of the stock.

NIO Inc. (NYSE:NIO - Get Free Report)'s share price reached a new 52-week low during trading on Monday. The stock traded as low as $3.36 and last traded at $3.3850, with a volume of 14,498,718 shares changing hands. The stock had previously closed at $3.43.

Analyst Ratings Changes

A number of analysts have recently weighed in on NIO shares. Citigroup reissued a "buy" rating on shares of NIO in a research report on Tuesday, September 1st. Sanford C. Bernstein cut their price target on shares of NIO from $6.00 to $5.00 and set a "market perform" rating on the stock in a report on Wednesday, September 2nd. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $7.00 to $4.50 in a research note on Wednesday, September 2nd. Weiss Ratings reissued a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. Finally, Freedom Broker downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.87.

NIO Trading Down 1.3%

The company has a market cap of $8.41 billion, a P/E ratio of -12.54 and a beta of 0.92. The business has a fifty day simple moving average of $3.89 and a 200 day simple moving average of $4.94. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%. The business had revenue of $4.73 billion for the quarter. Analysts anticipate that NIO Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its position in NIO by 62.4% in the third quarter. TD Waterhouse Canada Inc. now owns 45,764 shares of the company's stock worth $156,000 after buying an additional 17,592 shares during the period. Annex Advisory Services LLC bought a new stake in NIO in the third quarter valued at $40,000. QRG Capital Management Inc. boosted its holdings in shares of NIO by 24.2% during the second quarter. QRG Capital Management Inc. now owns 37,156 shares of the company's stock valued at $188,000 after acquiring an additional 7,246 shares during the period. Wellington Altus USA Inc. acquired a new position in shares of NIO during the second quarter valued at $35,000. Finally, Engineers Gate Manager LP grew its position in shares of NIO by 2.4% during the second quarter. Engineers Gate Manager LP now owns 152,990 shares of the company's stock worth $774,000 after acquiring an additional 3,537 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

About NIO

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.