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

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NIO Inc. (NYSE:NIO) shares gapped down from $7.45 to $7.23 before trading on Thursday, with a trading volume of 21,910,119 shares. Analysts have recently upgraded their ratings on NIO, with UBS raising its price target from $6.20 to $8.50. The company reported a quarterly EPS of ($0.32), missing estimates, and had a revenue of $2.65 billion. NIO's market cap is $15.41 billion, with a consensus rating of "Hold" and an average target price of $6.16. Institutional investors own 48.55% of the stock.
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