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

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

Analyst Ratings Changes

NIO has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.03.

NIO Stock Performance

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 business has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $4.86. The company has a market cap of $9.88 billion, a P/E ratio of -3.14 and a beta of 1.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp lifted its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. bought a new stake in shares of NIO during the 4th quarter valued at $44,000. Callan Family Office LLC bought a new position in shares of NIO during the 4th quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. bought a new position in shares of NIO in the fourth quarter worth approximately $45,000. Institutional investors 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.