NIO (NYSE:NIO) Stock Price Down 3.6% – Time to Sell?

Shares of Nio Inc – (NYSE:NIO) dropped 3.6% on Wednesday . The company traded as low as $4.57 and last traded at $4.60. Approximately 23,313,107 shares were traded during trading, a decline of 59% from the average daily volume of 56,980,941 shares. The stock had previously closed at $4.77.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, Citigroup dropped their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.71.

NIO Stock Down 1.7 %

The stock has a market cap of $8.06 billion, a P/E ratio of -3.05 and a beta of 1.77. The firm has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $4.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Trading of NIO

A number of institutional investors have recently made changes to their positions in NIO. FMR LLC boosted its stake in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of NIO by 164.3% during 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 acquiring an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of NIO during the 3rd quarter worth $4,879,000. Quadrature Capital Ltd raised its position in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Finally, Krane Funds Advisors LLC lifted its holdings in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after purchasing an additional 370,556 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Company Profile

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.