NIO (NYSE:NIO) Stock Falls 1.2% – Time to Sell?

NIO Inc. (NYSE:NIO) was down 1.2% during trading on Wednesday. The stock traded as low as $3.21 and last traded at $3.2410. Approximately 33,141,610 shares traded hands during trading, a decline of 9% from the average session volume of 36,581,414 shares. The stock had previously closed at $3.28.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Royal Bank Of Canada downgraded shares of NIO to a “sector perform” rating in a research report on Thursday, September 3rd. Citigroup reaffirmed a “buy” rating on shares of NIO in a research report on Tuesday, September 1st. Freedom Broker downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. dropped their target price on NIO from $4.50 to $3.70 and set a “neutral” rating on the stock in a report on Monday, October 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a research note on Tuesday, October 27th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.78.

NIO Price Performance

The company has a debt-to-equity ratio of 2.11, a current ratio of 1.02 and a quick ratio of 0.89. The company has a 50 day moving average price of $3.46 and a 200 day moving average price of $4.82. The firm has a market cap of $7.21 billion, a PE ratio of -10.76 and a beta of 0.89.

NIO (NYSE:NIO) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.00 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 during the quarter. Sell-side analysts expect that NIO Inc. will post -0.13 EPS for the current fiscal year.

Institutional Trading of NIO

Several large investors have recently added to or reduced their stakes in NIO. Persistent Asset Partners Ltd acquired a new stake in NIO during the 2nd quarter valued at approximately $34,000. Global Retirement Partners LLC acquired a new position in shares of NIO in the 2nd quarter valued at approximately $34,000. Wellington Altus USA Inc. purchased a new position in shares of NIO during the 2nd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after buying an additional 4,383 shares during the last quarter. Finally, Strengthening Families & Communities LLC boosted its stake in shares of NIO by 143.5% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,171 shares of the company’s stock valued at $28,000 after buying an additional 4,815 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.