NIO (NYSE:NIO) Shares Down 0.9% – Time to Sell?

Nio Inc – (NYSE:NIO) shares fell 0.9% during trading on Thursday . The company traded as low as $4.49 and last traded at $4.63. 19,134,123 shares were traded during trading, a decline of 66% from the average session volume of 56,973,590 shares. The stock had previously closed at $4.67.

Wall Street Analysts Forecast Growth

NIO has been the topic of several research analyst reports. Wolfe Research began coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Citigroup decreased their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus target price of $5.71.

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 stock has a market capitalization of $7.77 billion, a P/E ratio of -2.99 and a beta of 1.77. The business has a 50-day moving average price of $5.07 and a 200 day moving average price of $4.84.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in NIO in the 3rd quarter worth about $32,000. Ridgewood Investments LLC bought a new position in shares of NIO in the second quarter worth approximately $25,000. First Trust Direct Indexing L.P. purchased a new stake in shares of NIO during the third quarter valued at approximately $76,000. Apollon Wealth Management LLC bought a new stake in shares of NIO during the third quarter valued at approximately $78,000. Finally, Sivia Capital Partners LLC purchased a new position in NIO in the 3rd quarter worth approximately $92,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.