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

Shares of Nio Inc – (NYSE:NIO) gapped down prior to trading on Thursday . The stock had previously closed at $5.17, but opened at $4.98. NIO shares last traded at $4.89, with a volume of 12,706,492 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NIO. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.03.

NIO Stock Performance

The business has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.86. 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 company has a market cap of $9.95 billion, a P/E ratio of -3.16 and a beta of 1.81.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Trexquant Investment LP acquired a new stake in NIO during the fourth quarter valued at $3,305,000. Point72 Hong Kong Ltd purchased a new position in NIO in the third quarter valued at $4,879,000. SG Americas Securities LLC raised its position in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd grew its position in shares of 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 acquiring an additional 538,907 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.