NIO (NYSE:NIO) Shares Down 2.4% – Time to Sell?

Shares of NIO Inc. (NYSE:NIO) were down 2.4% on Friday. The stock traded as low as $3.37 and last traded at $3.4150. 26,243,492 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 37,084,180 shares. The stock had previously closed at $3.50.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein dropped their price target on NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 2nd. Citigroup restated a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Royal Bank Of Canada downgraded NIO to a “sector perform” rating in a report on Thursday, September 3rd. Zacks Research lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Finally, Freedom Broker cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $5.87.

NIO Trading Down 2.4%

The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 2.11. The stock’s 50 day moving average price is $3.92 and its 200-day moving average price is $4.95. The stock has a market capitalization of $8.48 billion, a P/E ratio of -12.65 and a beta of 0.92.

NIO (NYSE:NIO) last issued its quarterly earnings data on Saturday, August 15th. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $4.73 billion for the quarter. NIO had a negative net margin of 3.95% and a negative return on equity of 111.37%. As a group, equities research analysts expect that NIO Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Persistent Asset Partners Ltd purchased a new position in shares of NIO in the 2nd quarter valued at $34,000. Global Retirement Partners LLC purchased a new stake in shares of NIO during the 2nd quarter worth $34,000. Wellington Altus USA Inc. purchased a new stake in shares of NIO during the 2nd quarter worth $35,000. Annex Advisory Services LLC purchased a new stake in shares of NIO during the 3rd quarter worth $40,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in shares of NIO during the 1st quarter worth $41,000. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc is a Chinese technology and electric vehicle company headquartered in Shanghai. Founded in 2014, the company designs, develops and sells smart electric vehicles, including SUVs, sedans and other passenger vehicles. Its product portfolio has included models such as the ES6, ES7, ES8, ET5, ET5T and ET7, with model names varying by market.

In addition to vehicle sales, NIO provides related services and technologies, including battery-swapping stations, charging services, mobile charging, digital connectivity and driver-assistance features.