NIO (NYSE:NIO) Shares Down 2.1% – Should You Sell?

by · The Markets Daily

Shares of NIO Inc. (NYSE:NIO – Get Free Report) were down 2.1% on Friday . The company traded as low as $5.02 and last traded at $5.02. Approximately 32,590,257 shares traded hands during trading, a decline of 45% from the average daily volume of 58,956,418 shares. The stock had previously closed at $5.13.

Wall Street Analysts Forecast Growth

NIO has been the topic of several research reports. Macquarie set a $5.30 price target on NIO in a research note on Tuesday, November 25th. Barclays lifted their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Friday, November 28th. Mizuho upped their target price on NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Bank of America lifted their price target on shares of NIO from $5.00 to $7.10 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Finally, UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.73.

Read Our Latest Stock Report on NIO

NIO Trading Down 2.1%

The company has a 50 day moving average of $6.38 and a 200 day moving average of $5.43. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of -3.46 and a beta of 1.04. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36.

Institutional Investors Weigh In On NIO

Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in NIO by 18.0% in the first quarter. American Century Companies Inc. now owns 702,772 shares of the company’s stock valued at $2,678,000 after buying an additional 107,239 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of NIO by 4,297.2% during the first quarter. Brooklyn Investment Group now owns 15,434 shares of the company’s stock worth $59,000 after buying an additional 15,083 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of NIO by 96.6% in the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock valued at $3,964,000 after acquiring an additional 510,610 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of NIO by 25.5% in the 1st quarter. Compound Planning Inc. now owns 33,746 shares of the company’s stock worth $129,000 after acquiring an additional 6,865 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in NIO by 49.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company’s stock worth $70,000 after acquiring an additional 6,078 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.

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