NIO (NYSE:NIO) Trading Down 4.2% – Should You Sell?

Nio Inc – (NYSE:NIO) shares traded down 4.2% during trading on Thursday . The company traded as low as $4.26 and last traded at $4.32. 49,283,995 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 52,629,699 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

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

NIO Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm has a market capitalization of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.70. The firm’s 50 day simple moving average is $4.67 and its two-hundred day simple moving average is $4.81.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in NIO in the second quarter worth about $130,000. Commonwealth Equity Services LLC grew its holdings in NIO by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock worth $866,000 after purchasing an additional 3,539 shares during the period. Caprock Group LLC purchased a new stake in NIO in the second quarter worth about $63,000. Finally, PFG Investments LLC grew its holdings in NIO by 12.4% in the second quarter. PFG Investments LLC now owns 57,852 shares of the company’s stock worth $241,000 after purchasing an additional 6,404 shares during the period. 48.55% of the stock is owned by institutional investors.

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.