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

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

Analysts Set New Price Targets

NIO has been the subject of a number of recent analyst reports. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Up 3.5 %

The company has a market cap of $7.36 billion, a PE ratio of -2.83 and a beta of 1.70. The business has a fifty day simple moving average of $4.49 and a two-hundred day simple moving average of $4.78. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Blue Trust Inc. increased 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 valued at $27,000 after purchasing an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the 3rd quarter worth $32,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of NIO during the 4th quarter worth $53,000. Perigon Wealth Management LLC raised its holdings in shares of NIO by 24.1% during the 4th 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 acquired a new position in shares of NIO during the 2nd quarter valued at about $75,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.