NIO (NYSE:NIO) Stock Falls 3.7% – Should You Sell?

NIO Inc. (NYSE:NIO) dropped 3.7% on Tuesday. The company traded as low as $3.23 and last traded at $3.2850. 37,292,630 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 36,578,160 shares. The stock had previously closed at $3.41.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NIO. The Goldman Sachs Group reaffirmed a “buy” rating and set a $6.10 price objective on shares of NIO in a research note on Friday, September 4th. Sanford C. Bernstein cut their target price on shares of NIO from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, September 2nd. Zacks Research lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Tuesday, October 27th. Finally, Citigroup reiterated a “buy” rating on shares of NIO in a report on Tuesday, September 1st. Six 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 data from MarketBeat.com, NIO presently has an average rating of “Hold” and a consensus price target of $5.78.

NIO Price Performance

The company has a fifty day simple moving average of $3.48 and a two-hundred day simple moving average of $4.83. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.02. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of -11.26 and a beta of 0.89.

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

Hedge Funds Weigh In On NIO

Several large investors have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd acquired a new stake in NIO in the 2nd quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in NIO in the 2nd quarter valued at about $34,000. Wellington Altus USA Inc. purchased a new stake in NIO in the 2nd quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its stake in shares of NIO by 120.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,015 shares of the company’s stock valued at $48,000 after acquiring an additional 4,383 shares during the last quarter. Finally, Strengthening Families & Communities LLC increased its stake in shares of NIO by 143.5% during the 3rd quarter. Strengthening Families & Communities LLC now owns 8,171 shares of the company’s stock valued at $28,000 after acquiring an additional 4,815 shares during the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Company Profile

NIO Inc. is a China-based electric vehicle company founded in 2014. The company designs, develops, and sells premium smart electric vehicles, including sedans and sport utility vehicles, primarily under the NIO brand. Alongside its vehicles, NIO offers battery-swapping and charging services, vehicle software and connectivity features, and related ownership services. Its battery-as-a-service offering allows customers to separate battery use from vehicle purchase. NIO serves customers in China and selected European markets.