NIO (NYSE:NIO) Stock Price Down 0.7% – What’s Next?

Nio Inc – (NYSE:NIO) shares fell 0.7% on Wednesday . The stock traded as low as $4.02 and last traded at $4.05. 14,092,116 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 42,968,984 shares. The stock had previously closed at $4.08.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have given 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.com, the company presently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Trading Up 4.7 %

The firm’s 50-day simple moving average is $4.53 and its 200-day simple moving average is $4.79. The firm has a market capitalization of $7.49 billion, a P/E ratio of -2.88 and a beta of 1.70. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its stake in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. FMR LLC raised 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 buying an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd lifted its position in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares during the last quarter. SG Americas Securities LLC boosted its stake in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in NIO during the third quarter valued at approximately $4,879,000. 48.55% of the stock is currently owned by hedge funds and other 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.