NIO (NYSE:NIO) Stock Price Down 3.4% – Time to Sell?

NIO Inc. (NYSE:NIO)’s share price traded down 3.4% during mid-day trading on Wednesday . The stock traded as low as $4.90 and last traded at $4.9150. 25,356,039 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 41,525,441 shares. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NIO. Bank of America restated a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. HSBC raised NIO from a “hold” rating to a “buy” rating and boosted their target price for the company from $4.80 to $6.80 in a report on Friday, March 13th. Dbs Bank upgraded NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Nomura raised NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a research report on Wednesday, March 11th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.70.

NIO Stock Performance

The stock has a fifty day moving average of $5.76 and a 200-day moving average of $5.39. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The stock has a market cap of $12.08 billion, a PE ratio of -8.81 and a beta of 0.92.

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

Institutional Trading of NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DV Trading LLC lifted its stake in shares of NIO by 134.1% during the first quarter. DV Trading LLC now owns 16,386 shares of the company’s stock valued at $99,000 after buying an additional 9,386 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of NIO by 71.6% during the 1st quarter. Glenmede Trust Co. NA now owns 22,063 shares of the company’s stock worth $133,000 after purchasing an additional 9,204 shares during the period. Bank of America Corp DE lifted its stake in shares of NIO by 99.0% during the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after purchasing an additional 7,079,903 shares during the period. Centaurus Financial Inc. purchased a new stake in NIO in the 1st quarter valued at about $1,793,000. Finally, EverSource Wealth Advisors LLC grew its holdings in NIO by 120.7% in 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 period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About NIO

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.