NIO (NYSE:NIO) Stock Price Down 0.7% – Time to Sell?

Nio Inc – (NYSE:NIO) fell 0.7% during mid-day trading on Wednesday . The stock traded as low as $4.02 and last traded at $4.05. 14,092,116 shares were traded during trading, a decline of 67% from the average session volume of 42,968,984 shares. The stock had previously closed at $4.08.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NIO. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Up 4.7 %

The firm’s fifty day moving average is $4.53 and its two-hundred day moving average is $4.79. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm has a market capitalization of $7.49 billion, a PE ratio of -2.88 and a beta of 1.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NIO. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the 3rd quarter valued at approximately $32,000. AE Wealth Management LLC bought a new position in NIO during the second quarter valued at $75,000. First Trust Direct Indexing L.P. purchased a new stake in NIO in the third quarter worth $76,000. Apollon Wealth Management LLC bought a new stake in shares of NIO in the third quarter valued at $78,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of NIO during the 3rd quarter valued at $92,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.