NIO (NYSE:NIO) Shares Down 2.8% – Should You Sell?

Shares of NIO Inc. (NYSE:NIO) dropped 2.8% during mid-day trading on Monday . The stock traded as low as $4.73 and last traded at $4.90. Approximately 47,248,660 shares were traded during trading, a decline of 4% from the average daily volume of 49,014,172 shares. The stock had previously closed at $5.04.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 target price on shares of NIO in a research report on Thursday, October 30th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective for the company in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Barclays upped their price target on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. Finally, Citigroup lowered their price objective 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. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, NIO presently has an average rating of “Hold” and a consensus price target of $6.83.

NIO Trading Down 2.8%

The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of -3.38 and a beta of 1.10. The business’s 50 day moving average price is $4.86 and its 200-day moving average price 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 Investors Weigh In On NIO

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after buying an additional 2,950 shares in the last quarter. Allworth Financial LP grew its position in NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock worth $50,000 after buying an additional 4,269 shares during the period. Aries Wealth Management purchased a new position in NIO in the third quarter valued at about $76,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of NIO during the 3rd quarter valued at approximately $77,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

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.