NIO (NYSE:NIO) Trading Down 2.6% – Should You Sell?
by Kim Johansen · The Markets DailyNIO Inc. (NYSE:NIO – Get Free Report)’s stock price dropped 2.6% during mid-day trading on Friday . The stock traded as low as $4.63 and last traded at $4.6450. Approximately 36,213,930 shares changed hands during trading, a decline of 15% from the average daily volume of 42,640,652 shares. The stock had previously closed at $4.77.
Analyst Ratings Changes
NIO has been the topic of a number of analyst reports. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective on the stock in a research note on Thursday, January 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $7.00 target price on shares of NIO in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. UBS Group downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Citigroup reduced their price objective on shares of NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.83.
NIO Price Performance
The firm has a market capitalization of $9.69 billion, a PE ratio of -3.20 and a beta of 1.05. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. The business’s 50 day moving average is $5.10 and its two-hundred day moving average is $5.71.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in shares of NIO by 37.4% in the 2nd quarter. American Century Companies Inc. now owns 965,409 shares of the company’s stock worth $3,311,000 after purchasing an additional 262,637 shares in the last quarter. Vontobel Holding Ltd. lifted its position in NIO by 125.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock worth $3,754,000 after buying an additional 608,377 shares during the last quarter. RWC Asset Advisors US LLC bought a new stake in NIO in the 3rd quarter worth approximately $79,761,000. WMG Financial Advisors LLC boosted its stake in NIO by 17.9% in the second quarter. WMG Financial Advisors LLC now owns 474,966 shares of the company’s stock worth $1,629,000 after buying an additional 72,170 shares in the last quarter. Finally, Marex Group plc bought a new position in NIO during the second quarter valued at approximately $916,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.
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.