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

Nio Inc – (NYSE:NIO) fell 4.2% during mid-day 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.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NIO. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. 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 assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NIO presently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The stock has a market cap of $7.17 billion, a P/E ratio of -2.76 and a beta of 1.70. 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 company’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $4.80.

Institutional Investors Weigh In On NIO

Several large investors have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC bought a new stake in shares of NIO in the 3rd quarter worth about $32,000. Caprock Group LLC acquired a new position in NIO during the 2nd quarter worth about $63,000. AE Wealth Management LLC acquired a new position in NIO during the 2nd quarter worth about $75,000. First Trust Direct Indexing L.P. acquired a new position in NIO during the 3rd quarter worth about $76,000. Finally, Apollon Wealth Management LLC acquired a new position in NIO during the 3rd quarter valued at about $78,000. Institutional investors own 48.55% of the company’s stock.

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.