NIO (NYSE:NIO) Shares Down 1.2% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price fell 1.2% on Friday . The stock traded as low as $4.35 and last traded at $4.39. 9,284,556 shares changed hands during trading, a decline of 77% from the average session volume of 40,360,145 shares. The stock had previously closed at $4.44.

Analysts Set New Price Targets

NIO has been the subject of several research analyst reports. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.71.

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 business has a 50-day simple moving average of $4.45 and a 200 day simple moving average of $4.77. The stock has a market cap of $9.07 billion, a P/E ratio of -2.86 and a beta of 1.70.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently modified their holdings of NIO. Blue Trust Inc. increased its position 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the third quarter worth $32,000. Trilogy Capital Inc. purchased a new stake in NIO in the fourth quarter worth $45,000. U.S. Capital Wealth Advisors LLC purchased a new stake in NIO in the fourth quarter worth $53,000. Finally, ABC Arbitrage SA purchased a new stake in NIO in the fourth quarter worth $55,000. 48.55% of the stock is owned by hedge funds and other 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.