NIO (NYSE:NIO) Shares Down 1.1% - Should You Sell?

Key Points

• NIO shares fell 1.1% in midday trading, touching an intraday low of $4.81 before last trading at $4.825, on volume well below its average daily level.
• Analyst sentiment is mixed: Goldman Sachs upgraded NIO to buy with a $7 target, while Weiss Ratings kept a sell rating; the overall consensus remains Hold with a $6.70 price target.
• The company remains under pressure financially, with a negative P/E ratio, debt-to-equity ratio of 1.94, and shares trading below both the 50-day and 200-day moving averages.

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price was down 1.1% during mid-day trading on Monday . The stock traded as low as $4.81 and last traded at $4.8250. Approximately 17,176,425 shares were traded during trading, a decline of 56% from the average daily volume of 39,361,676 shares. The stock had previously closed at $4.88.

Wall Street Analyst Weigh In

NIO has been the subject of a number of analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a research report on Friday, May 1st. The Goldman Sachs Group raised NIO from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a research report on Monday, July 13th. Sanford C. Bernstein reiterated a "market perform" rating and set a $6.00 price objective on shares of NIO in a research note on Friday, May 22nd. Finally, Bank of America restated a "neutral" rating and set a $6.80 target price on shares of NIO in a research note on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.70.

NIO Price Performance

The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. The company has a market cap of $11.98 billion, a P/E ratio of -8.77 and a beta of 0.90. The firm's fifty day moving average is $5.31 and its two-hundred day moving average is $5.38.

Institutional Trading of NIO

Several institutional investors have recently made changes to their positions in NIO. Atlantic Union Bankshares Corp grew its holdings in NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company's stock valued at $30,000 after buying an additional 2,950 shares in the last quarter. Arax Advisory Partners lifted its holdings in shares of NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock worth $40,000 after buying an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of NIO during the fourth quarter worth $41,000. Merkkuri Wealth Advisors LLC bought a new position in shares of NIO during the first quarter worth $41,000. Finally, MV Capital Management Inc. purchased a new position in NIO during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.

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