NIO (NYSE:NIO) Shares Down 6.2% - Time to Sell?

Key Points

• NIO shares fell 6.2% to $3.04 in heavy trading, with volume 51% above the average session volume.
• Analyst sentiment is mixed but leans to Hold: six analysts rate the stock Buy, seven Hold, and two Sell; the consensus price target is $5.78.
• NIO reported quarterly revenue of $4.73 billion and break-even EPS, while analysts expect a loss of $0.13 per share for the current fiscal year.

NIO Inc. (NYSE:NIO - Get Free Report) shares were down 6.2% on Thursday. The company traded as low as $3.02 and last traded at $3.04. Approximately 55,345,182 shares were traded during trading, an increase of 51% from the average session volume of 36,667,762 shares. The stock had previously closed at $3.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NIO. Freedom Broker cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Zacks Research lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group restated a "buy" rating and set a $6.10 target price on shares of NIO in a report on Friday, September 4th. Royal Bank Of Canada lowered NIO to a "sector perform" rating in a research report on Thursday, September 3rd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a report on Tuesday, October 27th. Six 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $5.78.

NIO Trading Down 6.2%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The stock has a market cap of $7.55 billion, a PE ratio of -11.26 and a beta of 0.89. The company's 50-day moving average price is $3.48 and its 200 day moving average price is $4.83.

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

Hedge Funds Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Persistent Asset Partners Ltd acquired a new position in NIO during the second quarter worth $34,000. Global Retirement Partners LLC purchased a new stake in shares of NIO in the 2nd quarter valued at $34,000. Wellington Altus USA Inc. purchased a new stake in shares of NIO in the 2nd quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its stake in NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company's stock worth $48,000 after acquiring an additional 4,383 shares in the last quarter. Finally, Strengthening Families & Communities LLC lifted its stake in NIO by 143.5% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,171 shares of the company's stock worth $28,000 after acquiring an additional 4,815 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company's stock.

NIO Company Profile

NIO Inc. is a China-based electric vehicle company founded in 2014. The company designs, develops, and sells premium smart electric vehicles, including sedans and sport utility vehicles, primarily under the NIO brand. Alongside its vehicles, NIO offers battery-swapping and charging services, vehicle software and connectivity features, and related ownership services. Its battery-as-a-service offering allows customers to separate battery use from vehicle purchase. NIO serves customers in China and selected European markets.

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