NIO (NYSE:NIO) Shares Down 2.8% – Should You Sell?

NIO Inc. (NYSE:NIO) dropped 2.8% during trading on Wednesday . The stock traded as low as $3.68 and last traded at $3.6850. Approximately 49,798,477 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 37,909,855 shares. The stock had previously closed at $3.79.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $6.10 price target on shares of NIO in a report on Friday, September 4th. Zacks Research lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Bank of America reaffirmed a “neutral” rating and set a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Citigroup reiterated a “buy” rating on shares of NIO in a research report on Tuesday, September 1st. Finally, Freedom Broker lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.21.

NIO Stock Down 2.8%

The firm has a market cap of $9.15 billion, a price-to-earnings ratio of -13.65 and a beta of 0.92. The stock’s 50 day moving average is $4.59 and its 200 day moving average is $5.29. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11.

NIO (NYSE:NIO) last issued its quarterly earnings results on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. NIO had a negative return on equity of 111.37% and a negative net margin of 3.95%.The firm had revenue of $4.73 billion during the quarter. Analysts forecast that NIO Inc. will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NIO. Atlantic Union Bankshares Corp raised its position in NIO by 98.3% in the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in shares of NIO during the 2nd quarter valued at about $34,000. Global Retirement Partners LLC acquired a new position in shares of NIO in the 2nd quarter worth approximately $34,000. Arax Advisory Partners grew its stake in shares of NIO by 81.6% in the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after purchasing an additional 3,487 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of NIO in the 4th quarter worth approximately $41,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.