NIO (NYSE:NIO) Trading Down 4.9% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price was down 4.9% during mid-day trading on Monday . The stock traded as low as $4.40 and last traded at $4.41. Approximately 22,485,346 shares changed hands during trading, a decline of 55% from the average daily volume of 50,200,340 shares. The stock had previously closed at $4.63.

Analyst Ratings Changes

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

NIO Stock Down 8.2 %

The business has a 50-day simple moving average of $4.36 and a two-hundred day simple moving average of $4.80. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of -2.81 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Investors Weigh In On NIO

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the 3rd quarter worth $32,000. Blue Trust Inc. raised its holdings 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 in the last quarter. Jones Financial Companies Lllp lifted its position in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. purchased a new stake in NIO in the 4th quarter valued at approximately $44,000. Finally, Callan Family Office LLC acquired a new position in NIO during the 4th quarter worth approximately $44,000. 48.55% of the stock is 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.