NIO (NYSE:NIO) Shares Down 0.5% – Time to Sell?

Nio Inc – (NYSE:NIO) shares dropped 0.5% during trading on Wednesday . The company traded as low as $4.35 and last traded at $4.36. Approximately 39,648,980 shares traded hands during trading, a decline of 29% from the average daily volume of 56,068,160 shares. The stock had previously closed at $4.38.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Bank of America upped their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut shares of 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 note on Monday, November 25th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Stock Up 4.4 %

The firm has a market cap of $7.82 billion, a P/E ratio of -3.01 and a beta of 1.77. The firm’s 50-day moving average price is $4.73 and its 200 day moving average price is $4.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. FMR LLC lifted its holdings in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd boosted its position in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the period. Krane Funds Advisors LLC grew its stake in NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after buying an additional 370,556 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 during the period. 48.55% of the stock is 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.