NIO (NYSE:NIO) Downgraded by Hsbc Global Res to “Hold”

Hsbc Global Res downgraded shares of NIO (NYSE:NIO) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

NIO has been the subject of several other research reports. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Down 4.2 %

Shares of NIO opened at $4.32 on Tuesday. The stock has a fifty day simple moving average of $4.67 and a two-hundred day simple moving average of $4.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. NIO has a 52-week low of $3.61 and a 52-week high of $7.84.

Institutional Trading of NIO

Hedge funds have recently bought and sold shares of the company. FMR LLC grew its position 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 valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Point72 Asset Management L.P. boosted its position in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in NIO during the third quarter worth approximately $4,879,000. Quadrature Capital Ltd boosted its holdings 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 purchasing an additional 538,907 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its stake in shares of NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after buying an additional 370,556 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.