NIO (NYSE:NIO) Shares Down 0.4% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report) fell 0.4% on Wednesday . The stock traded as low as $4.13 and last traded at $4.16. 9,335,197 shares were traded during trading, a decline of 77% from the average session volume of 40,984,918 shares. The stock had previously closed at $4.18.

Wall Street Analyst Weigh In

NIO has been the subject of a number of recent research reports. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Daiwa America upgraded NIO to a "strong-buy" rating in a report on Monday, September 30th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.71.

NIO Price Performance

The business's 50-day simple moving average is $4.49 and its two-hundred day simple moving average is $4.79. The stock has a market cap of $7.50 billion, a P/E ratio of -2.85 and a beta of 1.70. 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

Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC purchased a new position in NIO during the 3rd quarter valued at $32,000. Blue Trust Inc. boosted its position in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of NIO during the 3rd quarter worth approximately $76,000. Apollon Wealth Management LLC purchased a new stake in shares of NIO in the 3rd quarter valued at approximately $78,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of NIO in the third quarter valued at approximately $92,000. Institutional investors 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.

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