NIO (NYSE:NIO) Shares Down 0.9% – Here’s Why

Nio Inc – (NYSE:NIO) fell 0.9% during mid-day trading on Monday . The stock traded as low as $4.48 and last traded at $4.50. 11,828,409 shares changed hands during trading, a decline of 79% from the average session volume of 56,402,871 shares. The stock had previously closed at $4.54.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Bank of America upped their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Up 3.1 %

The company has a market cap of $7.94 billion, a price-to-earnings ratio of -3.06 and a beta of 1.77. 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’s fifty day moving average price is $4.83 and its 200-day moving average price is $4.80.

Institutional Investors Weigh In On NIO

Several large investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of NIO in the third quarter valued at approximately $4,879,000. Quadrature Capital Ltd increased its position in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares in the last quarter. Finally, Krane Funds Advisors LLC raised its holdings in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after acquiring an additional 370,556 shares during the period. 48.55% of the stock is currently owned by institutional investors.

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.