NIO (NYSE:NIO) Shares Down 2.2% – Time to Sell?

Shares of NIO Inc. (NYSE:NIO) traded down 2.2% during trading on Wednesday . The stock traded as low as $4.64 and last traded at $4.6550. Approximately 25,544,567 shares were traded during trading, a decline of 33% from the average daily volume of 38,077,707 shares. The stock had previously closed at $4.76.

Wall Street Analyst Weigh In

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

NIO Stock Performance

The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The company has a market cap of $11.74 billion, a PE ratio of -8.59 and a beta of 0.91. The firm’s 50-day simple moving average is $5.01 and its two-hundred day simple moving average is $5.36.

Institutional Trading of NIO

Large investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp lifted its holdings in shares of NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the period. Persistent Asset Partners Ltd purchased a new position in NIO during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC acquired a new stake in NIO during the 2nd quarter valued at approximately $34,000. Arax Advisory Partners boosted its holdings in shares of NIO by 81.6% in the 4th quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock valued at $40,000 after acquiring an additional 3,487 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of NIO in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.