NIO (NYSE:NIO) Hits New 12-Month Low – Time to Sell?

NIO Inc. (NYSE:NIO)’s stock price hit a new 52-week low on Monday. The stock traded as low as $3.36 and last traded at $3.3850, with a volume of 14,498,718 shares traded. The stock had previously closed at $3.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Zacks Research lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.50 in a report on Wednesday, September 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $6.10 price objective on shares of NIO in a report on Friday, September 4th. Sanford C. Bernstein cut their price objective on shares of NIO from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada cut shares of NIO to a “sector perform” rating in a report on Thursday, September 3rd. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.87.

NIO Trading Up 1.3%

The firm has a market cap of $8.53 billion, a price-to-earnings ratio of -12.72 and a beta of 0.92. The company has a fifty day moving average price of $3.84 and a 200-day moving average price of $4.90. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NIO. Renaissance Technologies LLC boosted its stake in shares of NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock worth $87,146,000 after acquiring an additional 5,962,731 shares in the last quarter. Bank of America Corp DE grew its position in shares of 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 during the period. SG Americas Securities LLC increased its stake in shares of NIO by 67.2% in the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock valued at $30,314,000 after purchasing an additional 2,020,754 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in NIO in the 2nd quarter worth about $19,008,000. Finally, Hsbc Holdings PLC raised its holdings in NIO by 651.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after purchasing an additional 1,387,656 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.

About NIO

NIO Inc is a Chinese smart electric vehicle manufacturer founded in 2014 and headquartered in Shanghai. The company develops, manufactures and sells premium battery-powered passenger vehicles, including sedans, SUVs and coupés. Its vehicle lineup has included models such as the ET7, ET5, ES6, EL6, EL7 and EC6, along with newer vehicles introduced under the NIO and ONVO brands.

In addition to vehicle sales, NIO provides related services and technologies designed to support electric vehicle ownership.