NIO (NYSE:NIO) Stock Price Down 2% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price traded down 2% on Tuesday . The stock traded as low as $4.10 and last traded at $4.15. 15,941,256 shares were traded during trading, a decline of 71% from the average session volume of 54,618,384 shares. The stock had previously closed at $4.23.

Analyst Upgrades and Downgrades

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

NIO Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $8.82 billion, a PE ratio of -2.80 and a beta of 1.68. The business has a fifty day moving average price of $4.36 and a 200 day moving average price of $4.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in shares of NIO by 1,652,962.5% during the 3rd 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 purchased a new position in NIO in the fourth quarter valued at about $537,000. FMR LLC lifted its stake in shares of NIO by 5,388.5% during 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of NIO in the fourth quarter valued at about $1,360,000. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of NIO during the 3rd quarter valued at about $1,327,000. 48.55% of the stock is 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.