NIO (NYSE:NIO) Trading Down 4.2% – Should You Sell?

Nio Inc – (NYSE:NIO)’s stock price fell 4.2% during trading on Thursday . The company traded as low as $4.26 and last traded at $4.32. 49,283,995 shares were traded during mid-day trading, a decline of 6% from the average session volume of 52,629,699 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

NIO has been the topic of a number of recent analyst reports. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -2.76 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company’s 50 day simple moving average is $4.63 and its 200 day simple moving average is $4.80.

Hedge Funds Weigh In On NIO

Several hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of NIO by 5,388.5% in 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 in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of NIO during the third quarter worth approximately $4,879,000. Quadrature Capital Ltd boosted its holdings 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 boosted 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 worth $6,401,000 after purchasing an additional 370,556 shares during the period. 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.