NIO (NYSE:NIO) Shares Down 3.8% – Should You Sell?

Shares of Nio Inc – (NYSE:NIO) dropped 3.8% during mid-day trading on Wednesday . The company traded as low as $4.26 and last traded at $4.34. Approximately 22,872,255 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 47,111,617 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

A number of brokerages have issued reports on NIO. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday. Macquarie downgraded 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 research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average price is $4.67 and its 200 day moving average price is $4.81. The company has a market cap of $7.44 billion, a P/E ratio of -2.87 and a beta of 1.70.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently made changes to their positions in NIO. Renaissance Technologies LLC bought a new stake in NIO in the 2nd quarter valued at $1,076,000. International Assets Investment Management LLC raised its position in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after buying an additional 334,723 shares during the last quarter. Toronto Dominion Bank grew its position in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares in the last quarter. FMR LLC increased its stake in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in NIO in the 3rd quarter valued at approximately $1,327,000. 48.55% of the stock is currently owned by institutional investors.

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.