NIO (NYSE:NIO) Stock Price Down 3.4% – Should You Sell?

NIO Inc. (NYSE:NIO) shares dropped 3.4% during trading on Wednesday . The company traded as low as $4.90 and last traded at $4.9150. Approximately 25,356,039 shares changed hands during trading, a decline of 39% from the average session volume of 41,525,441 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Bank of America restated a “neutral” rating and issued a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Finally, Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective for the company in a report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus target price of $6.70.

NIO Stock Performance

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The stock has a market cap of $12.20 billion, a PE ratio of -8.94 and a beta of 0.92. The company’s 50-day moving average price is $5.83 and its two-hundred day moving average price is $5.39.

NIO (NYSE:NIO) last announced its earnings results on Friday, May 22nd. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.08. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.69 billion. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. The firm’s quarterly revenue was up 112.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, equities research analysts forecast that NIO Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On NIO

Institutional investors have recently modified their holdings of the company. Aspex Management HK Ltd bought a new stake in NIO in the 3rd quarter worth approximately $266,700,000. Renaissance Technologies LLC raised its stake in shares of NIO by 70.2% during the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after acquiring an additional 5,962,731 shares in the last quarter. Bank of America Corp DE raised its stake in shares of NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock worth $68,843,000 after acquiring an additional 1,694,023 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of NIO in the 3rd quarter worth approximately $91,440,000. 48.55% of the stock is currently owned by institutional investors.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.