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

Nio Inc – (NYSE:NIO) shares traded down 0.9% on Monday . The stock traded as low as $4.48 and last traded at $4.50. 11,828,409 shares were traded during mid-day trading, a decline of 79% from the average session volume of 56,402,871 shares. The stock had previously closed at $4.54.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.71.

NIO Stock Up 3.1 %

The stock has a market capitalization of $7.94 billion, a P/E ratio of -3.06 and a beta of 1.77. The business has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $4.80. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in NIO during the second quarter worth about $25,000. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the 3rd quarter worth approximately $32,000. Caprock Group LLC bought a new stake in NIO during the 2nd quarter worth approximately $63,000. Atomi Financial Group Inc. acquired a new stake in NIO during the 2nd quarter valued at $70,000. Finally, AE Wealth Management LLC bought a new position in NIO in the 2nd quarter valued at $75,000. Institutional investors and hedge funds 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.