NIO (NYSE:NIO) Stock Price Down 7.1% – Should You Sell?

NIO Inc. (NYSE:NIO)’s share price dropped 7.1% on Friday . The company traded as low as $5.81 and last traded at $5.9350. Approximately 60,871,349 shares traded hands during trading, an increase of 41% from the average daily volume of 43,272,227 shares. The stock had previously closed at $6.39.

Analyst Ratings Changes

NIO has been the topic of a number of analyst reports. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Bank of America reaffirmed a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Nomura raised shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a report on Wednesday, March 11th. Macquarie Infrastructure raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a report on Thursday, January 15th. Finally, HSBC raised shares of NIO from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, NIO has an average rating of “Hold” and an average target price of $6.80.

NIO Stock Down 7.1%

The stock’s fifty day moving average price is $5.83 and its 200 day moving average price is $5.62. The stock has a market cap of $13.64 billion, a P/E ratio of -6.12 and a beta of 0.99. 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 quarterly earnings results on Saturday, February 14th. The company reported $0.04 EPS for the quarter. The firm had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. As a group, research analysts forecast that NIO Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

Hedge funds have recently made changes to their positions in the business. Atlantic Union Bankshares Corp grew its holdings in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock valued at $37,000 after purchasing an additional 2,877 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of NIO by 81.6% during the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after purchasing an additional 3,487 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of NIO during the 4th quarter valued at $41,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in shares of NIO during the 1st quarter valued at $41,000. 48.55% of the stock is currently owned by institutional investors.

About NIO

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.