NIO (NYSE:NIO) Shares Down 5.8% – Time to Sell?

NIO Inc. (NYSE:NIO) was down 5.8% during trading on Monday . The stock traded as low as $4.34 and last traded at $4.3610. Approximately 52,139,792 shares were traded during trading, an increase of 39% from the average session volume of 37,380,555 shares. The stock had previously closed at $4.63.

Analysts Set New Price Targets

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

NIO Stock Performance

The stock has a market capitalization of $10.83 billion, a P/E ratio of -7.93 and a beta of 0.91. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The company has a 50-day moving average price of $4.81 and a two-hundred day moving average price of $5.36.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. XY Capital Ltd lifted its stake in NIO by 26.5% in the 2nd quarter. XY Capital Ltd now owns 562,296 shares of the company’s stock worth $2,845,000 after purchasing an additional 117,946 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of NIO by 20.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 28,172 shares of the company’s stock valued at $140,000 after purchasing an additional 4,877 shares in the last quarter. Nykredit A S purchased a new position in shares of NIO during the 2nd quarter valued at $964,000. Van ECK Associates Corp grew its position in shares of NIO by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 492,784 shares of the company’s stock valued at $2,493,000 after purchasing an additional 4,002 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of NIO by 651.5% in the second quarter. Hsbc Holdings PLC now owns 1,600,640 shares of the company’s stock worth $8,051,000 after purchasing an additional 1,387,656 shares during the period. 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.