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

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price dropped 0.8% during mid-day trading on Thursday . The company traded as low as $4.28 and last traded at $4.32. Approximately 10,825,650 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 54,201,619 shares. The stock had previously closed at $4.35.

Wall Street Analyst Weigh In

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

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NIO Trading Up 5.1 %

The stock has a market cap of $9.30 billion, a P/E ratio of -2.95 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm's 50 day simple moving average is $4.33 and its two-hundred day simple moving average is $4.80.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of 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 acquiring an additional 5,296,601 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after acquiring an additional 538,907 shares during the period. Bridgewater Associates LP boosted its holdings in shares of NIO by 28.6% during the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after acquiring an additional 263,338 shares during the period. SG Americas Securities LLC boosted its holdings in shares of NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after acquiring an additional 589,082 shares during the period. Finally, Swedbank AB boosted its holdings in shares of NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock valued at $4,657,000 after acquiring an additional 9,000 shares during the period. Institutional investors and hedge funds 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.