NIO (NYSE:NIO) Trading Down 3.4% – Here’s Why

Nio Inc – (NYSE:NIO) shares were down 3.4% during mid-day trading on Thursday . The stock traded as low as $4.16 and last traded at $4.14. Approximately 7,480,180 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 40,742,898 shares. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

NIO has been the topic of several research analyst reports. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group cut 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. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Up 3.5 %

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 market cap of $7.36 billion, a P/E ratio of -2.83 and a beta of 1.70. The firm’s 50 day moving average is $4.48 and its two-hundred day moving average is $4.78.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Blue Trust Inc. lifted its holdings in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of NIO during the third quarter worth $32,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of NIO during the fourth quarter worth $53,000. Perigon Wealth Management LLC lifted its position in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after acquiring an additional 2,867 shares in the last quarter. Finally, AE Wealth Management LLC acquired a new position in NIO in the 2nd quarter worth $75,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.