NIO (NYSE:NIO) Shares Down 2.9% - Time to Sell?

Nio Inc - (NYSE:NIO - Get Free Report) fell 2.9% during mid-day trading on Monday . The stock traded as low as $4.11 and last traded at $4.20. 17,874,218 shares were traded during mid-day trading, a decline of 56% from the average session volume of 40,601,543 shares. The stock had previously closed at $4.32.

Analyst Ratings Changes

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

NIO Price Performance

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 business has a 50 day moving average of $4.42 and a 200 day moving average of $4.75. The company has a market cap of $8.78 billion, a PE ratio of -2.78 and a beta of 1.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in NIO by 5,388.5% during the 3rd 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 period. Quadrature Capital Ltd increased its position in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after buying an additional 538,907 shares in the last quarter. SG Americas Securities LLC raised its stake in NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after buying an additional 589,082 shares during the last quarter. Swedbank AB boosted its holdings 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 acquiring an additional 9,000 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of NIO in the third quarter worth $4,879,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

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.