NIO (NYSE:NIO) Stock Price Down 2.8% – Should You Sell?

NIO Inc. (NYSE:NIOGet Free Report)’s share price traded down 2.8% during mid-day trading on Tuesday . The company traded as low as $5.20 and last traded at $5.2950. 34,336,298 shares changed hands during trading, a decline of 19% from the average session volume of 42,652,660 shares. The stock had previously closed at $5.45.

Key Stories Impacting NIO

Here are the key news stories impacting NIO this week:

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and upped their price objective for the stock from $4.80 to $6.80 in a report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a report on Monday, March 16th. Bank of America restated a “neutral” rating and set a $6.80 price objective on shares of NIO in a report on Thursday, May 21st. Finally, Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a report on Wednesday, March 11th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.70.

Read Our Latest Stock Report on NIO

NIO Stock Performance

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The stock has a market cap of $13.15 billion, a P/E ratio of -9.63 and a beta of 0.92. The company’s 50 day moving average price is $6.04 and its 200-day moving average price is $5.41.

NIO (NYSE:NIOGet Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $4.95 billion for the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. Equities analysts forecast that NIO Inc. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aspex Management HK Ltd purchased a new stake in NIO in the 3rd quarter valued at about $266,700,000. WT Asset Management Ltd purchased a new stake in NIO in the 3rd quarter valued at about $142,120,000. Renaissance Technologies LLC increased its stake in NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after buying an additional 5,962,731 shares during the last quarter. Bank of America Corp DE increased its stake in NIO by 99.0% in 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 buying an additional 7,079,903 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock valued at $68,843,000 after buying an additional 1,694,023 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

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.

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