NIO (NYSE:NIO) Shares Down 4% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price traded down 4% during trading on Tuesday . The stock traded as low as $4.17 and last traded at $4.19. 15,625,255 shares were traded during mid-day trading, a decline of 62% from the average session volume of 41,564,273 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

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

NIO Stock Performance

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 company has a fifty day moving average of $4.50 and a two-hundred day moving average of $4.79. The stock has a market capitalization of $7.50 billion, a P/E ratio of -2.77 and a beta of 1.70.

Hedge Funds Weigh In On NIO

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its holdings in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after buying an additional 4,018,659 shares during the period. FMR LLC increased its holdings in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares during the period. Quadrature Capital Ltd lifted its position in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after purchasing an additional 538,907 shares during the last quarter. SG Americas Securities LLC boosted its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after purchasing an additional 589,082 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in NIO in the 3rd quarter worth about $4,879,000. 48.55% of the stock is currently owned by institutional investors.

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.