NIO (NYSE:NIO) Shares Gap Down – Should You Sell?

Shares of Nio Inc – (NYSE:NIO) gapped down prior to trading on Wednesday . The stock had previously closed at $5.22, but opened at $5.05. NIO shares last traded at $5.25, with a volume of 21,408,858 shares trading hands.

Analysts Set New Price Targets

NIO has been the subject of a number of research reports. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and decreased their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.30.

NIO Stock Performance

The firm’s 50-day moving average price is $4.37 and its two-hundred day moving average price is $4.82. The firm has a market capitalization of $9.89 billion, a PE ratio of -3.14 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Shufro Rose & Co. LLC purchased a new position in shares of NIO in the fourth quarter worth approximately $65,000. Vident Advisory LLC lifted its position in shares of NIO by 60.6% in the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after purchasing an additional 20,349 shares in the last quarter. Vienna Asset Management LLC purchased a new stake in shares of NIO in the fourth quarter worth approximately $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in shares of NIO in the fourth quarter worth approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in shares of NIO by 15.1% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after purchasing an additional 8,746 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

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.