NIO (NYSE:NIO) Trading Down 7.5% – Should You Sell?

NIO Inc. (NYSE:NIO) shares dropped 7.5% during trading on Wednesday . The company traded as low as $4.95 and last traded at $5.09. Approximately 82,680,549 shares were traded during trading, an increase of 42% from the average daily volume of 58,070,738 shares. The stock had previously closed at $5.50.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $7.00 target price on shares of NIO in a research note on Thursday, October 30th. Barclays lifted their price objective 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. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research note on Monday. Mizuho raised their price target on shares of NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, UBS Group cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, NIO has a consensus rating of “Hold” and a consensus target price of $6.73.

NIO Stock Down 7.5%

The firm’s fifty day moving average is $5.76 and its two-hundred day moving average is $5.58. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of -3.51 and a beta of 1.06. 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 institutional investors and hedge funds have recently made changes to their positions in NIO. Aspex Management HK Ltd bought a new stake in NIO during the third quarter worth approximately $266,700,000. WT Asset Management Ltd acquired a new position in shares of NIO during the 3rd quarter valued at $142,120,000. Ghisallo Capital Management LLC bought a new stake in shares of NIO in the 3rd quarter worth $91,440,000. Voloridge Investment Management LLC acquired a new stake in shares of NIO in the third quarter valued at $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new stake in shares of NIO in the third quarter valued at $79,761,000. 48.55% of the stock is currently 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.