NIO (NYSE:NIO) Trading Down 0.8% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price traded down 0.8% on Thursday . The company traded as low as $4.28 and last traded at $4.32. 10,825,650 shares were traded during trading, a decline of 80% from the average session volume of 54,201,619 shares. The stock had previously closed at $4.35.

Analyst Ratings Changes

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

NIO Trading Down 2.6 %

The stock has a market cap of $8.84 billion, a PE ratio of -2.81 and a beta of 1.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $4.34 and a two-hundred day simple moving average of $4.80.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently bought and sold shares of NIO. PDS Planning Inc raised its position in shares of NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after buying an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in NIO by 25.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock valued at $59,000 after acquiring an additional 2,712 shares during the last quarter. Franklin Resources Inc. raised its position in NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in NIO by 24.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of NIO by 17.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock worth $94,000 after purchasing an additional 3,152 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.