NIO (NYSE:NIO) Stock Price Down 0.4% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price was down 0.4% during trading on Wednesday . The stock traded as low as $4.13 and last traded at $4.16. Approximately 9,335,197 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 40,984,918 shares. The stock had previously closed at $4.18.

Wall Street Analysts Forecast Growth

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

NIO Trading Up 3.5 %

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $7.36 billion, a P/E ratio of -2.83 and a beta of 1.70. The company has a 50-day moving average price of $4.49 and a 200 day moving average price of $4.78.

Institutional Trading of NIO

A number of institutional investors have recently modified their holdings of NIO. Blue Trust Inc. increased its position in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in NIO during the 3rd quarter valued at approximately $32,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of NIO in the 4th quarter valued at $53,000. Perigon Wealth Management LLC increased its stake in shares of NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after acquiring an additional 2,867 shares during the period. Finally, AE Wealth Management LLC purchased a new position in shares of NIO during the second quarter worth $75,000. 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.