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

NIO Inc. (NYSE:NIO)’s share price reached a new 52-week low during mid-day trading on Monday. The company 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

Several research analysts have commented on the stock. Zacks Research cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Citigroup reaffirmed a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Sanford C. Bernstein reduced their price objective on NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $4.50 in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada cut NIO to a “sector perform” rating in a research report on Thursday, September 3rd. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, NIO has an average rating of “Hold” and a consensus price target of $5.87.

NIO Stock Down 1.3%

The firm’s fifty day moving average is $3.89 and its two-hundred day moving average is $4.94. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -12.54 and a beta of 0.92. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased 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 valued at $85,800,000 after acquiring an additional 7,079,903 shares during the period. Renaissance Technologies LLC lifted its position in NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after purchasing an additional 5,962,731 shares during the period. Assenagon Asset Management S.A. acquired a new stake in NIO in the second quarter worth approximately $19,008,000. SG Americas Securities LLC lifted its position in NIO by 67.2% in the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock worth $30,314,000 after purchasing an additional 2,020,754 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in NIO by 651.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock valued at $8,051,000 after purchasing an additional 1,387,656 shares in 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.