NIO (NYSE:NIO) Shares Down 2.9% – Time to Sell?

Nio Inc – (NYSE:NIO)’s share price fell 2.9% during trading on Monday . The company traded as low as $4.01 and last traded at $4.05. 15,789,401 shares were traded 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.

Analyst Ratings Changes

A number of brokerages have commented on NIO. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Up 0.2 %

The stock has a market capitalization of $7.03 billion, a P/E ratio of -2.71 and a beta of 1.70. The business has a 50-day moving average price of $4.57 and a 200 day moving average price of $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. boosted its holdings in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares during the period. Point72 Hong Kong Ltd bought a new position in NIO in the 3rd quarter valued at $4,879,000. Quadrature Capital Ltd increased its stake in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Finally, SIH Partners LLLP increased its stake in NIO by 104.0% in the 2nd quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock worth $2,760,000 after buying an additional 338,320 shares during the period. Institutional investors 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.