NIO (NYSE:NIO) Trading Down 1.1% – Should You Sell?

NIO Inc. (NYSE:NIO) shares were down 1.1% during trading on Monday . The stock traded as low as $4.81 and last traded at $4.8250. 17,176,425 shares were traded during trading, a decline of 56% from the average daily volume of 39,361,676 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NIO. The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, July 13th. Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 price target on shares of NIO in a research note on Friday, May 22nd. Bank of America restated a “neutral” rating and set a $6.80 price target on shares of NIO in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.70.

NIO Trading Down 1.1%

The stock has a market cap of $11.98 billion, a P/E ratio of -8.77 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The stock’s fifty day moving average is $5.31 and its 200 day moving average is $5.38.

Institutional Trading of NIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC bought a new position in NIO in the third quarter worth about $89,952,000. Bank of America Corp DE boosted its holdings in shares of NIO by 99.0% in the 1st quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock valued at $85,800,000 after buying an additional 7,079,903 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NIO by 70.2% in the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after buying an additional 5,962,731 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NIO by 3,966.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock worth $20,255,000 after buying an additional 5,185,565 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of NIO in the 2nd quarter worth approximately $19,008,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.