NIO (NYSE:NIO) Shares Down 4.3% – Should You Sell?

NIO Inc. (NYSE:NIO) traded down 4.3% during trading on Tuesday . The company traded as low as $4.51 and last traded at $4.6150. Approximately 45,256,280 shares traded hands during trading, an increase of 19% from the average daily volume of 37,889,098 shares. The stock had previously closed at $4.82.

Analysts Set New Price Targets

A number of research firms recently weighed in on NIO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a report on Wednesday, July 29th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. Bank of America reissued a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. Zacks Research upgraded NIO from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, The Goldman Sachs Group raised NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, NIO presently has an average rating of “Moderate Buy” and a consensus target price of $6.70.

NIO Price Performance

The firm has a market cap of $11.46 billion, a price-to-earnings ratio of -8.39 and a beta of 0.91. The business’s 50-day moving average price is $4.97 and its two-hundred day moving average price is $5.36. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in NIO by 70.2% during the first 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. Bank of America Corp DE lifted its stake in NIO by 99.0% during the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in NIO by 14.4% in the fourth quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company’s stock worth $68,843,000 after purchasing an additional 1,694,023 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NIO by 3,966.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after purchasing an additional 5,185,565 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in NIO by 67.2% during the first quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company’s stock valued at $30,314,000 after purchasing an additional 2,020,754 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.