Hsbc Global Res Downgrades NIO (NYSE:NIO) to Hold

NIO (NYSE:NIO) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on NIO. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie lowered 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

NIO stock opened at $4.32 on Tuesday. The company has a market cap of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. NIO has a 1 year low of $3.61 and a 1 year high of $7.84. The stock’s fifty day moving average price is $4.67 and its 200-day moving average price is $4.81.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of NIO by 140.2% in the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after purchasing an additional 43,839 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of NIO in the third quarter valued at $374,000. Tidal Investments LLC lifted its holdings in shares of NIO by 2.4% in the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock valued at $1,871,000 after acquiring an additional 6,545 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of NIO by 63.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock valued at $553,000 after purchasing an additional 32,069 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in 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 buying an additional 132,237 shares during the period. 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.