NIO (NYSE:NIO) Stock Price Down 1.5% – Should You Sell?

NIO Inc. (NYSE:NIO) shares traded down 1.5% during trading on Tuesday . The company traded as low as $4.97 and last traded at $5.0250. 29,501,284 shares were traded during mid-day trading, a decline of 50% from the average session volume of 59,307,324 shares. The stock had previously closed at $5.10.

Analyst Ratings Changes

Several analysts recently commented on NIO shares. Barclays raised their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Bank of America raised their price target on NIO from $5.00 to $7.10 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $7.00 price objective on shares of NIO in a research report on Thursday, October 30th. Macquarie set a $5.30 target price on NIO in a research note on Tuesday, November 25th. Finally, Wall Street Zen raised shares of NIO from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.73.

NIO Stock Up 2.0%

The company has a market capitalization of $10.71 billion, a P/E ratio of -3.54 and a beta of 1.04. The firm’s 50 day moving average price is $6.38 and its two-hundred day moving average price is $5.43. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aspex Management HK Ltd bought a new stake in NIO during the 3rd quarter worth about $266,700,000. WT Asset Management Ltd acquired a new stake in shares of NIO in the third quarter valued at about $142,120,000. Ghisallo Capital Management LLC bought a new stake in NIO during the third quarter worth about $91,440,000. Voloridge Investment Management LLC acquired a new position in NIO during the third quarter valued at approximately $89,952,000. Finally, RWC Asset Advisors US LLC bought a new position in NIO in the third quarter valued at approximately $79,761,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.