NIO (NYSE:NIO) Shares Down 2.5% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price fell 2.5% on Friday . The company traded as low as $4.19 and last traded at $4.21. 17,353,545 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 46,537,555 shares. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NIO shares. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NIO has a consensus rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The firm has a market capitalization of $7.17 billion, a PE ratio of -2.76 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. The business’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.80.

Institutional Trading of NIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in NIO during the third quarter valued at about $32,000. Caprock Group LLC purchased a new position in NIO in the 2nd quarter worth approximately $63,000. AE Wealth Management LLC purchased a new position in shares of NIO in the second quarter worth $75,000. First Trust Direct Indexing L.P. bought a new position in shares of NIO during the third quarter valued at about $76,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of NIO during the third quarter worth about $78,000. 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.