NIO (NYSE:NIO) Stock Price Down 1.9% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report) dropped 1.9% during trading on Tuesday . The stock traded as low as $4.29 and last traded at $4.28. Approximately 23,771,768 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 45,589,773 shares. The stock had previously closed at $4.36.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. HSBC lowered NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIO has an average rating of "Hold" and an average price target of $5.38.

NIO Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a 50 day moving average of $4.36 and a 200 day moving average of $4.78. The firm has a market cap of $9.65 billion, a P/E ratio of -3.06 and a beta of 1.69.

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the company. FMR LLC grew its position in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after purchasing an additional 538,907 shares in the last quarter. Bridgewater Associates LP boosted its stake in shares of NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares in the last quarter. SG Americas Securities LLC raised its position in NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after purchasing an additional 589,082 shares during the period. Finally, Swedbank AB lifted its stake in NIO by 0.8% in the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after purchasing an additional 9,000 shares during the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

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.