NIO (NYSE:NIO) Trading Down 0.2% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price dropped 0.2% during trading on Tuesday . The stock traded as low as $4.05 and last traded at $4.05. Approximately 15,878,946 shares traded hands during trading, a decline of 64% from the average daily volume of 44,439,906 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

NIO has been the topic of several recent research reports. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.71.

NIO Price Performance

The firm has a market capitalization of $7.03 billion, a P/E ratio of -2.71 and a beta of 1.70. The business’s fifty day moving average is $4.60 and its 200 day moving average is $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC lifted its position in NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after buying an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after acquiring an additional 2,588 shares during the period. Greenwich Wealth Management LLC grew its stake in shares of NIO by 12.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock valued at $121,000 after purchasing an additional 3,315 shares during the period. Commonwealth Equity Services LLC grew its position in NIO by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock valued at $866,000 after acquiring an additional 3,539 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in NIO by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock valued at $5,742,000 after buying an additional 3,548 shares in the last quarter. Hedge funds and other institutional investors 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.