NIO (NYSE:NIO) Shares Down 1.3% – Should You Sell?

NIO Inc. (NYSE:NIO)’s stock price dropped 1.3% during mid-day trading on Thursday. The company traded as low as $3.57 and last traded at $3.6240. Approximately 27,970,482 shares were traded during mid-day trading, a decline of 25% from the average session volume of 37,498,016 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

NIO has been the subject of a number of research analyst reports. Sanford C. Bernstein dropped their price objective 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 downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Citigroup reaffirmed a “buy” rating on shares of NIO in a research report on Tuesday, September 1st. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $4.50 in a research note on Wednesday, September 2nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, NIO presently has a consensus rating of “Hold” and an average price target of $5.87.

NIO Trading Down 1.3%

The company has a market capitalization of $9.00 billion, a PE ratio of -13.42 and a beta of 0.92. 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 business has a fifty day moving average price of $4.32 and a 200 day moving average price of $5.19.

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

Institutional Trading of NIO

A number of institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its position in NIO by 24.2% in the second quarter. QRG Capital Management Inc. now owns 37,156 shares of the company’s stock valued at $188,000 after purchasing an additional 7,246 shares during the period. Wellington Altus USA Inc. purchased a new stake in shares of NIO during the 2nd quarter valued at about $35,000. Engineers Gate Manager LP lifted its position in NIO by 2.4% during the 2nd quarter. Engineers Gate Manager LP now owns 152,990 shares of the company’s stock worth $774,000 after acquiring an additional 3,537 shares in the last quarter. NewEdge Advisors LLC lifted its position in NIO by 2,045.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,261 shares of the company’s stock worth $57,000 after acquiring an additional 10,736 shares in the last quarter. Finally, Nykredit A S purchased a new position in NIO in the 2nd quarter worth approximately $964,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

NIO Inc is a Chinese smart electric vehicle company founded in 2014 and headquartered in Shanghai. The company designs, develops and sells battery-powered passenger vehicles, with a focus on combining electric mobility with digital connectivity, autonomous-driving capabilities and premium user services.

NIO’s vehicle lineup has included electric SUVs, sedans and station wagons marketed under the NIO brand. Its services include battery charging and swapping, mobile charging, battery upgrades, vehicle financing and maintenance support.