NIO (NYSE:NIO) Stock Price Down 2.5% – Here’s Why

Nio Inc – (NYSE:NIO) dropped 2.5% during mid-day trading on Friday . The stock traded as low as $4.19 and last traded at $4.21. Approximately 17,353,545 shares traded hands during trading, a decline of 63% from the average daily volume of 46,537,555 shares. The stock had previously closed at $4.32.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIO has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Price Performance

The firm has a market cap of $7.22 billion, a PE ratio of -2.78 and a beta of 1.70. The stock has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $4.80. 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 Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the 3rd quarter valued at $32,000. Caprock Group LLC purchased a new position in NIO in the second quarter valued at $63,000. AE Wealth Management LLC acquired a new position in shares of NIO in the second quarter worth about $75,000. First Trust Direct Indexing L.P. purchased a new stake in shares of NIO during the 3rd quarter worth about $76,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of NIO during the 3rd quarter valued at about $78,000. 48.55% of the stock is owned by institutional investors and hedge funds.

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.