NIO (NYSE:NIO) Stock Price Down 0.8% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price traded down 0.8% during trading on Thursday . The company traded as low as $4.35 and last traded at $4.36. 20,905,899 shares were traded during mid-day trading, a decline of 53% from the average session volume of 44,370,176 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research analyst reports. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a 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, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIO currently has an average rating of “Hold” and a consensus target price of $5.38.

NIO Trading Down 0.8 %

The stock has a market cap of $9.09 billion, a PE ratio of -2.88 and a beta of 1.68. 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 fifty day moving average price is $4.36 and its 200 day moving average price is $4.75.

Institutional Trading of NIO

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in NIO in the 3rd quarter worth about $32,000. Blue Trust Inc. lifted its holdings in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after buying an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Sava Infond d.o.o. purchased a new position in shares of NIO in the fourth quarter valued at $44,000. Finally, Callan Family Office LLC purchased a new position in NIO in the fourth quarter worth about $44,000. Institutional investors own 48.55% of the company’s stock.

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.