NIO (NYSE:NIO) Trading Down 6.8% – Time to Sell?

Nio Inc – (NYSE:NIO)’s share price dropped 6.8% during mid-day trading on Thursday . The stock traded as low as $4.72 and last traded at $4.75. Approximately 31,341,181 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 54,844,938 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

NIO has been the topic of several analyst reports. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group cut 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 report on Monday, November 25th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.30.

NIO Trading Down 8.5 %

The company has a market capitalization of $9.74 billion, a PE ratio of -3.09 and a beta of 1.81. The company has a 50 day simple moving average of $4.37 and a 200 day simple moving average of $4.82. 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 Investors Weigh In On NIO

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp grew its stake in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after buying an additional 4,332 shares during the period. Sava Infond d.o.o. acquired a new position in NIO in the fourth quarter valued at approximately $44,000. Callan Family Office LLC acquired a new stake in NIO during the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. purchased a new stake in NIO in the fourth quarter valued at $45,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.