NIO (NYSE:NIO) Stock Price Down 4.2% – Should You Sell?

Shares of NIO Inc. (NYSE:NIO) fell 4.2% during mid-day trading on Thursday . The company traded as low as $6.21 and last traded at $6.2650. 36,179,424 shares were traded during trading, a decline of 14% from the average session volume of 42,014,605 shares. The stock had previously closed at $6.54.

Analysts Set New Price Targets

NIO has been the topic of a number of recent analyst reports. HSBC upgraded NIO from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.80 to $6.80 in a research note on Friday, March 13th. Nomura upgraded NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price for the company in a research note on Wednesday, March 11th. Bank of America reaffirmed a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Macquarie Infrastructure upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target for the company in a report on Thursday, January 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.80.

NIO Price Performance

The stock has a 50-day simple moving average of $5.97 and a 200 day simple moving average of $5.56. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. The company has a market cap of $14.39 billion, a P/E ratio of -6.46 and a beta of 0.97.

NIO (NYSE:NIO) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $4.95 billion for the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%. On average, equities analysts expect that NIO Inc. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after acquiring an additional 5,185,565 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of NIO by 50.9% during the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock valued at $61,000 after acquiring an additional 5,974 shares during the period. Invesco Ltd. increased its position in shares of NIO by 22.7% during the 2nd quarter. Invesco Ltd. now owns 2,738,308 shares of the company’s stock worth $9,392,000 after purchasing an additional 506,618 shares in the last quarter. First Trust Advisors LP lifted its holdings in NIO by 67.4% during the 2nd quarter. First Trust Advisors LP now owns 73,280 shares of the company’s stock valued at $251,000 after purchasing an additional 29,501 shares during the last quarter. Finally, AXA S.A. acquired a new position in NIO in the second quarter valued at about $64,000. 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.