NIO (NYSE:NIO) Trading Down 1.1% – Time to Sell?
by Doug Wharley · The Cerbat GemNio Inc – (NYSE:NIO – Get Free Report)’s share price fell 1.1% during trading on Friday . The stock traded as low as $4.36 and last traded at $4.38. 17,177,761 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 56,484,430 shares. The stock had previously closed at $4.43.
Analyst Ratings Changes
NIO has been the topic of a number of research analyst reports. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.11.
Check Out Our Latest Report on NIO
NIO Trading Up 0.5 %
The stock has a market cap of $7.65 billion, a PE ratio of -2.88 and a beta of 1.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. The company has a 50 day moving average of $5.58 and a two-hundred day moving average of $4.93.
NIO (NYSE:NIO – Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The business had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the company posted ($0.51) EPS. The business’s quarterly revenue was up 98.9% on a year-over-year basis. Sell-side analysts anticipate that Nio Inc – will post -1.37 earnings per share for the current fiscal year.
Institutional Investors Weigh In On NIO
Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares in the last quarter. FMR LLC boosted its position in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock valued at $10,950,000 after acquiring an additional 535,400 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in NIO by 31.7% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after acquiring an additional 370,556 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in NIO by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after purchasing an additional 343,910 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.
About NIO
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.