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

Nio Inc – (NYSE:NIO) shares gapped down before the market opened on Thursday . The stock had previously closed at $5.17, but opened at $4.98. NIO shares last traded at $4.89, with a volume of 12,706,492 shares trading hands.

Wall Street Analysts Forecast Growth

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

NIO Stock Down 4.4 %

The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of -2.98 and a beta of 1.81. The firm’s fifty day moving average price is $4.43 and its 200-day moving average price is $4.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PDS Planning Inc increased its holdings in NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after purchasing an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings 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 purchasing an additional 2,712 shares during the period. Franklin Resources Inc. increased its holdings in NIO by 20.4% in 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 during the period. Perigon Wealth Management LLC increased its holdings in NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after purchasing an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in NIO by 17.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock valued at $94,000 after acquiring an additional 3,152 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.