NIO (NYSE:NIO) Trading Down 3.5% – Should You Sell?

NIO Inc. (NYSE:NIO)’s stock price was down 3.5% on Wednesday . The company traded as low as $4.85 and last traded at $4.8560. Approximately 25,706,743 shares changed hands during trading, a decline of 56% from the average daily volume of 58,602,711 shares. The stock had previously closed at $5.03.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NIO shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $7.00 price target on shares of NIO in a research note on Thursday, October 30th. Citigroup lowered their price target on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Mizuho increased their price objective on shares of NIO from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research report on Monday. Finally, Wall Street Zen raised NIO from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.73.

NIO Stock Performance

The company has a market capitalization of $10.14 billion, a P/E ratio of -3.35 and a beta of 1.04. The stock’s fifty day moving average price is $6.23 and its 200-day moving average price is $5.48. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NIO. Farther Finance Advisors LLC lifted its holdings in NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock valued at $37,000 after purchasing an additional 2,877 shares during the last quarter. Allworth Financial LP raised its position in shares of NIO by 183.5% in the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after purchasing an additional 4,269 shares during the period. Aries Wealth Management bought a new position in shares of NIO in the third quarter valued at about $76,000. Concurrent Investment Advisors LLC acquired a new stake in shares of NIO during the 3rd quarter worth about $77,000. Finally, Strategies Wealth Advisors LLC bought a new stake in shares of NIO during the 3rd quarter worth about $77,000. 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.