NIO (NYSE:NIO) Stock Price Down 2.9% – Should You Sell?

Nio Inc – (NYSE:NIO) traded down 2.9% during trading on Monday . The company traded as low as $4.01 and last traded at $4.05. 15,789,401 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 45,558,695 shares. The stock had previously closed at $4.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NIO shares. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Macquarie cut shares of 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 research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Stock 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 firm has a market capitalization of $7.00 billion, a PE ratio of -2.70 and a beta of 1.70. The stock’s 50 day moving average price is $4.62 and its two-hundred day moving average price is $4.80.

Institutional Trading of NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Principal Financial Group Inc. lifted its stake in shares of NIO by 140.2% during the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after purchasing an additional 43,839 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in NIO in the 3rd quarter worth about $374,000. Tidal Investments LLC increased its stake in shares of NIO by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after acquiring an additional 6,545 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of NIO by 63.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock worth $553,000 after acquiring an additional 32,069 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after acquiring an additional 132,237 shares during the last quarter. 48.55% of the stock is currently 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.