NIO (NYSE:NIO) Stock Price Down 1.5% - Here's Why

Nio Inc - (NYSE:NIO - Get Free Report) was down 1.5% during mid-day trading on Monday . The company traded as low as $4.35 and last traded at $4.38. Approximately 17,811,231 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 45,739,449 shares. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

Several research firms have recently commented on NIO. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.38.

NIO Stock Down 1.5 %

The firm has a 50-day moving average price of $4.35 and a two-hundred day moving average price of $4.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -2.84 and a beta of 1.69.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FMR LLC lifted its position 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 purchased a new stake in shares of NIO in the 4th quarter valued at about $3,305,000. Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the 3rd quarter valued at about $4,879,000. SG Americas Securities LLC boosted its position in shares of NIO by 104.8% in 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, Quadrature Capital Ltd increased its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock worth $14,756,000 after buying an additional 538,907 shares during the period. Institutional investors and hedge funds 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.