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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.30.

NIO Trading Up 3.5 %

The company’s 50 day simple moving average is $4.37 and its 200 day simple moving average is $4.82. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of -3.25 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Hedge Funds Weigh In On NIO

Several institutional investors have recently modified their holdings of the business. Shufro Rose & Co. LLC acquired a new position in shares of NIO during the fourth quarter worth $65,000. Vident Advisory LLC grew its stake in shares of NIO by 60.6% during the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after purchasing an additional 20,349 shares in the last quarter. Vienna Asset Management LLC acquired a new position in shares of NIO during the fourth quarter worth $100,000. Laird Norton Wetherby Trust Company LLC acquired a new position in shares of NIO during the fourth quarter worth $93,000. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after purchasing an additional 8,746 shares in the last quarter. Institutional investors and hedge funds 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.