NIO (NYSE:NIO) Shares Down 1.1% – Should You Sell?

Nio Inc – (NYSE:NIO)’s stock price fell 1.1% during trading on Wednesday . The company traded as low as $4.48 and last traded at $4.49. 8,973,994 shares were traded during mid-day trading, a decline of 84% from the average session volume of 56,630,281 shares. The stock had previously closed at $4.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Wolfe Research assumed coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup reduced their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

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 stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of -2.89 and a beta of 1.77. The stock’s 50 day moving average is $5.02 and its 200 day moving average is $4.83.

Institutional Investors Weigh In On NIO

A number of large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of NIO by 4.8% in the second quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock worth $262,000 after acquiring an additional 2,915 shares during the last quarter. Bank of New York Mellon Corp increased its position in NIO by 32.1% during 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. Atomi Financial Group Inc. acquired a new position in NIO in the 2nd quarter valued at about $70,000. Arkadios Wealth Advisors purchased a new position in NIO in the 2nd quarter valued at about $160,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of NIO during the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.