NIO (NYSE:NIO) Shares Down 4.6% – Here’s What Happened

Shares of Nio Inc – (NYSE:NIO) fell 4.6% during trading on Friday . The stock traded as low as $4.36 and last traded at $4.49. 45,166,065 shares traded hands during trading, a decline of 18% from the average session volume of 55,087,727 shares. The stock had previously closed at $4.71.

Analyst Upgrades and Downgrades

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

NIO Trading Down 4.4 %

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’s 50 day moving average price is $4.42 and its two-hundred day moving average price is $4.86. The stock has a market capitalization of $9.40 billion, a PE ratio of -2.99 and a beta of 1.81.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently bought and sold shares of NIO. Blue Trust Inc. raised its stake in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the period. Jones Financial Companies Lllp raised its stake in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the period. Callan Family Office LLC purchased a new position in NIO during the fourth quarter worth about $44,000. Sava Infond d.o.o. purchased a new position in NIO during the fourth quarter worth about $44,000. Finally, Trilogy Capital Inc. purchased a new position in NIO during the fourth quarter worth about $45,000. 48.55% of the stock is owned by hedge funds and other 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.