NIO (NYSE:NIO) Shares Gap Down - Should You Sell?

Nio Inc - (NYSE:NIO - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $5.22, but opened at $5.05. NIO shares last traded at $5.25, with a volume of 21,408,858 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Macquarie cut NIO from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and lowered their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.30.

NIO Stock Performance

The firm has a 50 day moving average of $4.37 and a two-hundred day moving average of $4.82. The stock has a market cap of $9.89 billion, a P/E ratio of -3.14 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in NIO by 140.2% in the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after acquiring an additional 43,839 shares during the period. Apollon Wealth Management LLC bought a new stake in NIO during the third quarter worth about $78,000. GSA Capital Partners LLP bought a new position in shares of NIO in the third quarter valued at approximately $481,000. Axim Planning & Wealth raised its stake in shares of NIO by 471.9% in the third quarter. Axim Planning & Wealth now owns 80,383 shares of the company's stock valued at $537,000 after acquiring an additional 66,328 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of NIO by 112.2% in the third quarter. Banque Cantonale Vaudoise now owns 363,885 shares of the company's stock valued at $2,430,000 after acquiring an additional 192,394 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.

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