NIO (NYSE:NIO) Stock Price Down 3% – Time to Sell?

Nio Inc – (NYSE:NIO)’s stock price traded down 3% during trading on Friday . The stock traded as low as $4.43 and last traded at $4.65. 30,244,509 shares were traded during trading, a decline of 40% from the average session volume of 50,179,242 shares. The stock had previously closed at $4.79.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NIO shares. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Trading Down 3.4 %

The company has a market cap of $9.65 billion, a price-to-earnings ratio of -3.06 and a beta of 1.68. 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’s 50 day moving average price is $4.36 and its 200-day moving average price is $4.78.

Institutional Investors Weigh In On NIO

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the third quarter worth approximately $32,000. Blue Trust Inc. grew its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp increased its position in NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after buying an additional 4,332 shares during the period. Sava Infond d.o.o. acquired a new stake in shares of NIO during the fourth quarter worth $44,000. Finally, Callan Family Office LLC acquired a new stake in shares of NIO during the fourth quarter worth $44,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.