NIO (NYSE:NIO) Stock Price Down 0.8% - Should You Sell?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price fell 0.8% on Thursday . The stock traded as low as $4.35 and last traded at $4.36. 20,905,899 shares changed hands during trading, a decline of 53% from the average session volume of 44,370,176 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NIO shares. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. HSBC lowered 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 lowered their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO has an average rating of "Hold" and a consensus target price of $5.38.

NIO Price Performance

The firm has a market capitalization of $9.28 billion, a P/E ratio of -2.94 and a beta of 1.68. The stock's fifty day simple moving average is $4.35 and its 200 day simple moving average is $4.75. 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of 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. Allspring Global Investments Holdings LLC acquired a new position in NIO during the 3rd quarter valued at about $32,000. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after acquiring an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter worth about $44,000. Finally, Sava Infond d.o.o. acquired a new position in shares of NIO during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.