NIO (NYSE:NIO) Trading Down 1.1% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price traded down 1.1% on Wednesday . The stock traded as low as $4.48 and last traded at $4.49. 8,973,994 shares were traded during mid-day trading, a decline of 84% from the average session volume of 56,630,281 shares. The stock had previously closed at $4.54.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NIO shares. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and cut their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. upgraded NIO from a "neutral" rating to an "overweight" rating and raised their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Daiwa America upgraded NIO to a "strong-buy" rating in a report on Monday, September 30th. Finally, Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.71.

NIO Stock Performance

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 business has a 50 day moving average price of $4.98 and a two-hundred day moving average price of $4.82. The stock has a market cap of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Point72 Asset Management L.P. boosted its position in NIO by 164.3% during 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 acquiring an additional 4,018,659 shares in the last quarter. FMR LLC grew its stake in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Quadrature Capital Ltd raised its position in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after acquiring an additional 538,907 shares during the period. Krane Funds Advisors LLC boosted its position in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock worth $6,401,000 after purchasing an additional 370,556 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company's stock valued at $5,894,000 after buying an additional 343,910 shares in the last quarter. 48.55% of the stock is currently 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.