NIO (NYSE:NIO) Shares Down 1.7% – Should You Sell?

Shares of Nio Inc – (NYSE:NIO) were down 1.7% during trading on Wednesday . The company traded as low as $5.04 and last traded at $5.13. Approximately 47,808,456 shares traded hands during trading, a decline of 13% from the average daily volume of 54,730,656 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

A number of equities analysts recently commented on NIO shares. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. The Goldman Sachs Group cut shares of 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 research report on Monday, November 25th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.30.

NIO Stock Up 3.5 %

The stock has a market capitalization of $10.22 billion, a PE ratio of -3.25 and a beta of 1.81. The firm’s fifty day moving average is $4.37 and its 200-day moving average is $4.82. 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NIO. FMR LLC raised its holdings in NIO by 5,388.5% during the third 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 in the last quarter. Trexquant Investment LP purchased a new position in NIO during the fourth quarter worth about $3,305,000. Point72 Hong Kong Ltd purchased a new position in NIO during the third quarter worth about $4,879,000. SG Americas Securities LLC grew its position in NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd grew its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares during the period. 48.55% of the stock is owned by hedge funds and other 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.