NIO (NYSE:NIO) Trading Down 4.9% - Time to Sell?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) fell 4.9% during mid-day trading on Monday . The stock traded as low as $4.40 and last traded at $4.41. 22,485,346 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 50,200,340 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

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

NIO Stock Performance

The company's 50-day moving average price is $4.34 and its two-hundred day moving average price is $4.80. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -2.80 and a beta of 1.81. 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

A number of hedge funds have recently added to or reduced their stakes in NIO. FMR LLC grew its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after buying an additional 5,296,601 shares during the period. Trexquant Investment LP bought a new stake in NIO in the fourth quarter valued at $3,305,000. Point72 Hong Kong Ltd acquired a new position in shares of NIO during the third quarter valued at about $4,879,000. SG Americas Securities LLC boosted its position 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 purchasing an additional 589,082 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of NIO by 32.3% in 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 during the period. 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.