NIO (NYSE:NIO) Stock Price Down 4% – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price was down 4% during mid-day trading on Wednesday . The stock traded as low as $4.21 and last traded at $4.22. Approximately 13,661,616 shares changed hands during trading, a decline of 67% from the average daily volume of 41,624,594 shares. The stock had previously closed at $4.39.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NIO shares. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a research note on Tuesday. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.38.

NIO Stock Performance

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 $8.84 billion, a PE ratio of -2.80 and a beta of 1.68. The stock’s 50 day moving average price is $4.42 and its 200 day moving average price is $4.75.

Institutional Investors Weigh In On NIO

A number of large investors have recently modified their holdings of NIO. Generali Investments CEE investicni spolecnost a.s. acquired a new position in NIO during the 4th quarter worth approximately $67,000. Callan Family Office LLC purchased a new position in NIO in the 4th quarter worth approximately $44,000. Raymond James Financial Inc. purchased a new position in NIO in the 4th quarter worth approximately $1,776,000. WMG Financial Advisors LLC boosted its holdings in NIO by 37.7% in the 4th quarter. WMG Financial Advisors LLC now owns 381,535 shares of the company’s stock worth $1,663,000 after acquiring an additional 104,478 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in NIO in the 4th quarter worth approximately $1,360,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.