NIO (NYSE:NIO) Stock Price Down 3.3% – Should You Sell?

NIO Inc. (NYSE:NIO)’s share price traded down 3.3% on Friday . The stock traded as low as $4.47 and last traded at $4.4850. Approximately 23,632,987 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 38,902,918 shares. The stock had previously closed at $4.64.

Wall Street Analysts Forecast Growth

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

NIO Trading Down 3.3%

The firm’s fifty day simple moving average is $5.16 and its 200 day simple moving average is $5.36. The stock has a market capitalization of $11.14 billion, a P/E ratio of -8.15 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its holdings in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares in the last quarter. Arax Advisory Partners raised its holdings in shares of NIO by 81.6% during the 4th 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. acquired a new position in shares of NIO during the 4th quarter worth $41,000. Merkkuri Wealth Advisors LLC bought a new stake in shares of NIO during the 1st quarter worth $41,000. Finally, MV Capital Management Inc. bought a new stake in shares of NIO during the 4th quarter worth $42,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.