NIO (NYSE:NIO) Stock Price Down 1.3% – Should You Sell?

Shares of NIO Inc. (NYSE:NIO) were down 1.3% on Friday . The stock traded as low as $4.70 and last traded at $4.71. Approximately 56,305,959 shares changed hands during trading, an increase of 30% from the average daily volume of 43,457,277 shares. The stock had previously closed at $4.77.

Wall Street Analyst Weigh In

NIO has been the subject of several recent analyst reports. Citigroup lowered their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. 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 upped their price target on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Finally, UBS Group lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.83.

NIO Price Performance

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 stock has a fifty day simple moving average of $4.97 and a 200-day simple moving average of $5.75. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of -3.25 and a beta of 1.05.

Institutional Investors Weigh In On NIO

Several hedge funds have recently modified their holdings of the company. Aspex Management HK Ltd acquired a new position in shares of NIO during the 3rd quarter worth approximately $266,700,000. WT Asset Management Ltd purchased a new position in NIO in the 3rd quarter worth approximately $142,120,000. Ghisallo Capital Management LLC purchased a new stake in NIO in the 3rd quarter valued at $91,440,000. Voloridge Investment Management LLC purchased a new stake in shares of NIO in the third quarter valued at about $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new stake in shares of NIO in the 3rd quarter valued at approximately $79,761,000. 48.55% of the stock is 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.