NIO (NYSE:NIO) Trading Down 6.9% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price was down 6.9% during mid-day trading on Thursday . The company traded as low as $4.83 and last traded at $4.82. Approximately 22,705,822 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 54,929,676 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NIO shares. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.03.

NIO Price Performance

The business has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.86. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $9.88 billion, a P/E ratio of -3.14 and a beta of 1.81.

Institutional Trading of NIO

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