NIO (NYSE:NIO) Trading Down 2.5% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price fell 2.5% during mid-day trading on Friday . The company traded as low as $4.19 and last traded at $4.21. 17,353,545 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 46,537,555 shares. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NIO shares. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Macquarie lowered 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 equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $5.71.

NIO Stock Down 2.8 %

The business has a 50-day moving average price of $4.63 and a two-hundred day moving average price 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. The firm has a market cap of $7.22 billion, a PE ratio of -2.78 and a beta of 1.70.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the 3rd quarter valued at $32,000. Caprock Group LLC purchased a new stake in shares of NIO during the second quarter worth approximately $63,000. AE Wealth Management LLC purchased a new position in NIO in the 2nd quarter valued at $75,000. First Trust Direct Indexing L.P. acquired a new position in NIO in the 3rd quarter valued at $76,000. Finally, Apollon Wealth Management LLC purchased a new position in NIO during the 3rd quarter worth $78,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.