NIO (NYSE:NIO) Stock Price Down 4.1% – Time to Sell?

NIO Inc. (NYSE:NIO)’s share price fell 4.1% during mid-day trading on Thursday . The stock traded as low as $5.54 and last traded at $5.5450. 36,104,390 shares changed hands during trading, a decline of 21% from the average session volume of 45,688,645 shares. The stock had previously closed at $5.78.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NIO shares. Bank of America reissued a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 target price on the stock in a research report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a research note on Thursday, January 15th. Finally, Barclays raised their price objective on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Friday, November 28th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.80.

NIO Stock Performance

The company has a market cap of $12.74 billion, a price-to-earnings ratio of -5.72 and a beta of 1.11. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 2.08. The stock’s 50 day moving average price is $5.05 and its 200 day moving average price is $5.75.

Hedge Funds Weigh In On NIO

A number of large investors have recently bought and sold shares of the stock. Aspex Management HK Ltd acquired a new position in NIO in the third quarter valued at $266,700,000. WT Asset Management Ltd purchased a new stake in NIO during the third quarter valued at about $142,120,000. Ghisallo Capital Management LLC acquired a new stake in NIO during the third quarter worth about $91,440,000. Voloridge Investment Management LLC purchased a new position in shares of NIO in the 3rd quarter worth about $89,952,000. Finally, RWC Asset Advisors US LLC purchased a new position in shares of NIO in the 3rd quarter worth about $79,761,000. Hedge funds and other 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.