Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was down 0.9% during trading on Thursday . The company traded as low as $4.49 and last traded at $4.63. Approximately 19,134,123 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 56,973,590 shares. The stock had previously closed at $4.67.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Daiwa America raised shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Macquarie cut NIO from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and increased their price target for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NIO currently has a consensus rating of "Hold" and a consensus target price of $5.71.
Read Our Latest Stock Report on NIO
NIO Trading Down 1.8 %
The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.88 billion, a PE ratio of -3.04 and a beta of 1.77. The stock's fifty day moving average price is $5.11 and its two-hundred day moving average price is $4.84.
Institutional Trading of NIO
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC bought a new position in NIO in the 2nd quarter worth $25,000. Allspring Global Investments Holdings LLC bought a new position in NIO in the third quarter worth about $32,000. Baader Bank Aktiengesellschaft purchased a new stake in NIO in the second quarter worth about $53,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock worth $61,000 after acquiring an additional 2,651 shares during the period. Finally, Caprock Group LLC bought a new position in shares of NIO in the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 48.55% of the company's stock.
About NIO
(
Get Free Report)
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.
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