NIO (NYSE:NIO) Trading Down 0.9% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price was down 0.9% during trading on Thursday . The stock traded as low as $4.49 and last traded at $4.63. Approximately 19,134,123 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 56,973,590 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NIO shares. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and dropped their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Finally, Daiwa America upgraded shares of 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, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

The company has a market cap of $7.77 billion, a P/E ratio of -2.99 and a beta of 1.77. The company’s fifty day moving average is $5.07 and its 200 day moving average is $4.84. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in NIO during the 2nd quarter valued at about $1,076,000. International Assets Investment Management LLC boosted its stake in shares of NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares during the period. FMR LLC grew its holdings in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of NIO in the third quarter worth $1,327,000. Finally, Signaturefd LLC raised its holdings in NIO by 16.9% during the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after buying an additional 7,014 shares during the last quarter. Hedge funds and other institutional investors 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.