NIO (NYSE:NIO) Trading Down 2.4% – Time to Sell?

NIO Inc. (NYSE:NIO)’s stock price traded down 2.4% during mid-day trading on Wednesday . The company traded as low as $4.38 and last traded at $4.44. 38,105,659 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 44,233,055 shares. The stock had previously closed at $4.55.

Analysts Set New Price Targets

Several brokerages recently commented on NIO. Macquarie raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target for the company in a research report on Thursday, January 15th. UBS Group cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Barclays upped their target price on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 28th. Finally, Citigroup reduced their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, NIO currently has an average rating of “Hold” and an average target price of $6.83.

NIO Stock Performance

The stock has a market capitalization of $9.27 billion, a P/E ratio of -3.06 and a beta of 1.10. The stock’s 50-day simple moving average is $4.91 and its 200 day simple moving average is $5.77. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Aspex Management HK Ltd acquired a new stake in NIO during the third quarter worth approximately $266,700,000. WT Asset Management Ltd bought a new position in shares of NIO during the third quarter worth approximately $142,120,000. Ghisallo Capital Management LLC bought a new position in shares of NIO during the third quarter worth approximately $91,440,000. Voloridge Investment Management LLC acquired a new stake in NIO during the 3rd quarter worth approximately $89,952,000. Finally, RWC Asset Advisors US LLC bought a new stake in NIO in the 3rd quarter valued at $79,761,000. 48.55% of the stock is owned by institutional investors.

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.