NIO (NYSE:NIO) Shares Down 2.5% – Time to Sell?

Nio Inc – (NYSE:NIO) traded down 2.5% during trading on Tuesday . The stock traded as low as $4.55 and last traded at $4.59. 16,923,074 shares were traded during trading, a decline of 59% from the average session volume of 41,548,195 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NIO. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Price Performance

The firm has a market cap of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.70. The company has a fifty day moving average of $4.67 and a 200-day moving average of $4.81. 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Ballentine Partners LLC raised its holdings in shares of NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after purchasing an additional 2,588 shares during the last quarter. Greenwich Wealth Management LLC raised its stake in NIO by 12.9% in the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock valued at $121,000 after purchasing an additional 3,315 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in NIO by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock valued at $866,000 after purchasing an additional 3,539 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in NIO by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock worth $5,742,000 after buying an additional 3,548 shares in the last quarter. 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.