NIO (NYSE:NIO) Stock Price Down 0.5% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price was down 0.5% during trading on Wednesday . The company traded as low as $5.10 and last traded at $5.17. Approximately 15,790,606 shares traded hands during trading, a decline of 71% from the average daily volume of 55,043,970 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NIO. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered shares of 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 note on Monday, November 25th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus target price of $5.03.

NIO Trading Down 7.1 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -2.97 and a beta of 1.81. The company’s fifty day moving average price is $4.42 and its 200-day moving average price is $4.86.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in NIO by 140.2% during the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after purchasing an additional 43,839 shares during the last quarter. West Family Investments Inc. purchased a new stake in NIO in the third quarter valued at approximately $138,000. Avior Wealth Management LLC increased its holdings in NIO by 106.1% in the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after buying an additional 7,510 shares during the period. Advisors Asset Management Inc. raised its position in NIO by 71.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,179 shares of the company’s stock worth $549,000 after buying an additional 34,299 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in NIO during the 3rd quarter valued at approximately $140,000. 48.55% of the stock is 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.