NIO (NYSE:NIO) Stock Price Down 3.5% – Time to Sell?

NIO Inc. (NYSE:NIO) dropped 3.5% on Monday . The stock traded as low as $5.83 and last traded at $5.8850. Approximately 30,653,316 shares changed hands during trading, a decline of 27% from the average daily volume of 41,739,359 shares. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NIO shares. Dbs Bank raised NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Bank of America reiterated a “neutral” rating on shares of NIO in a research note on Tuesday, March 10th. HSBC upgraded shares of 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 research report on Friday, March 13th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a research report on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed 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 issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.80.

NIO Price Performance

The firm has a market capitalization of $12.89 billion, a P/E ratio of -5.78 and a beta of 0.97. The business has a 50-day moving average of $6.07 and a 200 day moving average of $5.53. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 2.08.

NIO (NYSE:NIO) last issued its earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. The business had revenue of $4.95 billion during the quarter. NIO had a negative return on equity of 924.56% and a negative net margin of 17.21%. On average, sell-side analysts predict that NIO Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in NIO by 99.0% during the 1st 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 in the last quarter. Centaurus Financial Inc. purchased a new position in NIO during the 1st quarter worth $1,793,000. EverSource Wealth Advisors LLC grew its stake in shares of NIO by 120.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock worth $48,000 after acquiring an additional 4,383 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of NIO by 14.1% in the first quarter. Royal Bank of Canada now owns 100,186 shares of the company’s stock valued at $605,000 after purchasing an additional 12,375 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new stake in shares of NIO in the first quarter valued at about $247,000. 48.55% of the stock is owned by institutional investors.

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.