NIO (NYSE:NIO) Shares Gap Down – Time to Sell?

Nio Inc – (NYSE:NIO)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.22, but opened at $5.05. NIO shares last traded at $5.25, with a volume of 21,408,858 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on NIO shares. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned 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 $5.30.

NIO Price 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 $10.74 billion, a P/E ratio of -3.41 and a beta of 1.81. The company has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $4.82.

Hedge Funds Weigh In On NIO

Several large investors have recently bought and sold shares of NIO. PDS Planning Inc grew its holdings in NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock worth $99,000 after acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after purchasing an additional 2,712 shares during the period. Franklin Resources Inc. increased its holdings in NIO by 20.4% in the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in NIO by 17.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock valued at $94,000 after buying an additional 3,152 shares during the period. 48.55% of the stock is currently 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.