NIO (NYSE:NIO) Stock Price Down 2% - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) dropped 2% on Tuesday . The company traded as low as $4.10 and last traded at $4.15. Approximately 15,941,256 shares traded hands during trading, a decline of 71% from the average daily volume of 54,618,384 shares. The stock had previously closed at $4.23.

Analyst Upgrades and Downgrades

NIO has been the topic of a number of research analyst reports. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and cut their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie downgraded 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 note on Wednesday, November 20th. Finally, Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $5.30.

NIO Trading Up 5.1 %

The firm has a 50 day simple moving average of $4.33 and a 200 day simple moving average of $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $9.30 billion, a PE ratio of -2.95 and a beta of 1.81.

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Institutional Trading of NIO

Several institutional investors have recently added to or reduced their stakes in the business. PDS Planning Inc boosted its stake in NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after purchasing an additional 2,627 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock valued at $59,000 after buying an additional 2,712 shares during the period. Franklin Resources Inc. lifted its holdings in shares of NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after buying an additional 2,788 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock valued at $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of NIO by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company's stock valued at $94,000 after buying an additional 3,152 shares during the period. 48.55% of the stock is currently owned by hedge funds and other 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.