NIO (NYSE:NIO) Shares Down 2.4% – Should You Sell?

Nio Inc – (NYSE:NIO)’s share price traded down 2.4% on Friday . The stock traded as low as $4.46 and last traded at $4.48. 12,251,305 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 56,905,000 shares. The stock had previously closed at $4.59.

Analyst Ratings Changes

A number of research firms have issued reports on NIO. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Macquarie downgraded 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 report on Wednesday, November 20th. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Trading Down 2.4 %

The company has a 50 day simple moving average of $5.11 and a two-hundred day simple moving average of $4.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market cap of $7.70 billion, a PE ratio of -2.97 and a beta of 1.77.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in NIO in the 2nd quarter valued at approximately $1,076,000. International Assets Investment Management LLC increased its holdings in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares in the last quarter. FMR LLC increased its position in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in NIO in the 3rd quarter worth approximately $1,327,000. Finally, Signaturefd LLC raised its position in shares of NIO by 16.9% during the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after acquiring an additional 7,014 shares during the last quarter. 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.