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

Nio Inc – (NYSE:NIO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $4.63, but opened at $4.49. NIO shares last traded at $4.42, with a volume of 15,991,460 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on NIO shares. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.38.

NIO Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business has a 50 day moving average price of $4.36 and a 200-day moving average price of $4.80. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of -2.79 and a beta of 1.68.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Trexquant Investment LP bought a new position in shares of NIO during the 4th quarter worth about $3,305,000. Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the 3rd quarter valued at about $4,879,000. SG Americas Securities LLC grew its stake in shares of NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after buying an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd increased its position in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.