NIO (NYSE:NIO) Stock Price Down 4% - Time to Sell?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) traded down 4% on Wednesday . The stock traded as low as $4.21 and last traded at $4.22. 13,661,616 shares changed hands during trading, a decline of 67% from the average session volume of 41,624,594 shares. The stock had previously closed at $4.39.

Analyst Upgrades and Downgrades

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

NIO Stock Up 0.8 %

The firm has a market cap of $8.84 billion, a PE ratio of -2.80 and a beta of 1.68. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average price of $4.42 and a 200-day moving average price of $4.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after buying an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO during the 3rd quarter worth about $32,000. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC acquired a new position in NIO in the fourth quarter valued at approximately $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds 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.