NIO (NYSE:NIO) Trading Down 0.8% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) traded down 0.8% during mid-day trading on Thursday . The company traded as low as $4.35 and last traded at $4.36. 20,905,899 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 44,370,176 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $5.38.

NIO Stock Performance

The firm has a market capitalization of $9.28 billion, a PE ratio of -2.94 and a beta of 1.68. 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 firm has a 50-day moving average price of $4.35 and a 200 day moving average price of $4.75.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after acquiring an additional 334,723 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after acquiring an additional 132,237 shares in the last quarter. AlphaStar Capital Management LLC acquired a new stake in shares of NIO in the fourth quarter valued at $537,000. FMR LLC raised its stake 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 acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of NIO in the third quarter valued at $1,327,000. 48.55% of the stock is currently 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.