NIO (NYSE:NIO) Stock Price Down 0.8% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was down 0.8% during mid-day trading on Thursday . The stock traded as low as $4.28 and last traded at $4.32. Approximately 10,825,650 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 54,201,619 shares. The stock had previously closed at $4.35.

Wall Street Analyst Weigh In

NIO has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group lowered shares of 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, NIO has a consensus rating of "Hold" and a consensus price target of $5.30.

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NIO Price 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's 50 day moving average price is $4.33 and its 200 day moving average price is $4.81. The firm has a market capitalization of $9.30 billion, a P/E ratio of -2.95 and a beta of 1.81.

Institutional Trading of NIO

Several hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Trexquant Investment LP bought a new position in NIO in the fourth quarter valued at approximately $3,305,000. Point72 Hong Kong Ltd bought a new position in NIO in the third quarter valued at approximately $4,879,000. SG Americas Securities LLC boosted its stake in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock valued at $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its stake in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after acquiring an additional 538,907 shares during the last quarter. 48.55% of the stock is owned by institutional investors.

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.