NIO (NYSE:NIO) Trading Down 5.2% – Should You Sell?

NIO Inc. (NYSE:NIO) dropped 5.2% during mid-day trading on Monday . The company traded as low as $4.85 and last traded at $4.8750. Approximately 73,878,991 shares changed hands during trading, an increase of 29% from the average daily volume of 57,081,566 shares. The stock had previously closed at $5.14.

Analysts Set New Price Targets

Several research analysts recently weighed in on NIO shares. Barclays increased their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. UBS Group lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Macquarie set a $5.30 price objective on NIO in a research report on Tuesday, November 25th. Citigroup decreased their target price on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.73.

NIO Price Performance

The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a 50-day simple moving average of $5.68 and a two-hundred day simple moving average of $5.63.

Institutional Investors Weigh In On NIO

A number of hedge funds have recently added to or reduced their stakes in NIO. Farther Finance Advisors LLC boosted its position in NIO by 148.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock valued at $37,000 after buying an additional 2,877 shares during the period. Allworth Financial LP raised its stake in shares of NIO by 183.5% in the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after acquiring an additional 4,269 shares in the last quarter. Aries Wealth Management purchased a new position in NIO in the third quarter valued at $76,000. Concurrent Investment Advisors LLC purchased a new position in NIO in the third quarter valued at $77,000. Finally, Strategies Wealth Advisors LLC purchased a new stake in NIO during the 3rd quarter worth about $77,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.