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

Nio Inc – (NYSE:NIO) shares dropped 4% on Tuesday . The stock traded as low as $4.17 and last traded at $4.19. Approximately 15,625,255 shares were traded 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 Analyst Weigh In

NIO has been the subject of several research analyst reports. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res downgraded shares of NIO from a “strong-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 lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.71.

NIO Trading Down 3.4 %

The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -2.74 and a beta of 1.70. The firm’s 50 day moving average is $4.49 and its 200 day moving average is $4.78. 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 Trading of NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. FMR LLC lifted its stake in NIO by 5,388.5% during the third 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 during the last quarter. Point72 Asset Management L.P. lifted its position in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of NIO in the 3rd quarter valued at approximately $4,879,000. SG Americas Securities LLC lifted its position in shares of NIO by 104.8% in the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after acquiring an additional 589,082 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.