NIO (NYSE:NIO) Trading Down 2% – Time to Sell?

Nio Inc – (NYSE:NIO) shares dropped 2% on Tuesday . The company traded as low as $4.10 and last traded at $4.15. Approximately 15,941,256 shares changed hands during trading, a decline of 71% from the average daily volume of 54,618,384 shares. The stock had previously closed at $4.23.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.38.

NIO Price Performance

The business has a 50 day simple moving average of $4.36 and a 200-day simple moving average of $4.80. The company has a market capitalization of $8.82 billion, a P/E ratio of -2.80 and a beta of 1.68. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. FMR LLC raised its holdings in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after buying an additional 5,296,601 shares during the last quarter. Trexquant Investment LP bought a new stake in NIO during the 4th quarter valued at $3,305,000. Point72 Hong Kong Ltd acquired a new stake in NIO in the third quarter worth about $4,879,000. SG Americas Securities LLC lifted its stake in shares of NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd boosted its stake 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 in the last quarter. 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.