NIO (NYSE:NIO) Trading Down 1.5% – Should You Sell?

NIO Inc. (NYSE:NIO)’s stock price traded down 1.5% during mid-day trading on Wednesday . The stock traded as low as $4.53 and last traded at $4.55. Approximately 20,710,649 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 37,858,488 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

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

NIO Stock Performance

The stock’s 50-day moving average price is $4.94 and its 200-day moving average price is $5.36. The company has a market cap of $11.30 billion, a P/E ratio of -8.27 and a beta of 0.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

Institutional Trading of NIO

A number of institutional investors have recently bought and sold shares of NIO. Atlantic Union Bankshares Corp grew its position in NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after buying an additional 2,950 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in NIO during the 2nd quarter worth $34,000. Global Retirement Partners LLC acquired a new position in NIO in the 2nd quarter valued at $34,000. Arax Advisory Partners raised its holdings in NIO by 81.6% in the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after acquiring an additional 3,487 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of NIO during the 4th quarter valued at $41,000. Institutional investors own 48.55% of the company’s stock.

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.