NIO (NYSE:NIO) Stock Price Down 1.2% - Should You Sell?

Nio Inc - (NYSE:NIO - Get Free Report) shares were down 1.2% during mid-day trading on Friday . The stock traded as low as $4.35 and last traded at $4.39. Approximately 9,284,556 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 40,360,145 shares. The stock had previously closed at $4.44.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NIO shares. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NIO currently has a consensus rating of "Hold" and an average target price of $5.71.

NIO Trading Down 0.8 %

The stock has a market cap of $8.94 billion, a P/E ratio of -2.84 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm's fifty day moving average price is $4.44 and its two-hundred day moving average price is $4.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NIO. FMR LLC lifted its position in 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 purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of 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 buying an additional 538,907 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of NIO by 104.8% during 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 last quarter. Swedbank AB grew its position in NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in NIO during the third quarter valued at about $4,879,000. 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.