NIO (NYSE:NIO) Trading Down 4% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) were down 4% during mid-day trading on Tuesday . The company traded as low as $4.17 and last traded at $4.19. Approximately 15,625,255 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 41,564,273 shares. The stock had previously closed at $4.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NIO shares. Hsbc Global Res downgraded shares of NIO from a “strong-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 cut their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie downgraded shares of 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. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Down 3.4 %

The firm has a market cap of $7.19 billion, a price-to-earnings ratio of -2.74 and a beta of 1.70. The firm has a 50-day moving average of $4.49 and a two-hundred day moving average of $4.78. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Several hedge funds have recently modified their holdings of NIO. Blue Trust Inc. raised its stake in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after purchasing an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO during the third quarter valued at about $32,000. Perigon Wealth Management LLC lifted its stake in shares of 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 buying an additional 2,867 shares during the period. AE Wealth Management LLC acquired a new stake in NIO during the second quarter worth about $75,000. Finally, First Trust Direct Indexing L.P. bought a new position in NIO during the third quarter valued at about $76,000. 48.55% of the stock is owned by 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.