NIO (NYSE:NIO) Shares Down 3.4% – Should You Sell?

Shares of Nio Inc – (NYSE:NIO) dropped 3.4% during mid-day trading on Thursday . The stock traded as low as $4.16 and last traded at $4.14. Approximately 7,480,180 shares traded hands during trading, a decline of 82% from the average daily volume of 40,742,898 shares. The stock had previously closed at $4.28.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered 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 research note on Monday, November 25th. 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 issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The stock has a market cap of $7.19 billion, a PE ratio of -2.73 and a beta of 1.70. The business has a fifty day moving average of $4.49 and a 200 day moving average of $4.78. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Trading of NIO

Several hedge funds have recently bought and sold shares of NIO. Point72 Asset Management L.P. grew its stake in shares of NIO by 164.3% in the 2nd 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 last quarter. FMR LLC boosted its position in NIO by 5,388.5% during the 3rd 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 during the period. Quadrature Capital Ltd grew its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.