NIO (NYSE:NIO) Stock Price Down 2.9% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) fell 2.9% on Monday . The company traded as low as $4.01 and last traded at $4.05. 15,789,401 shares were traded during trading, a decline of 65% from the average session volume of 45,558,695 shares. The stock had previously closed at $4.17.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of recent research reports. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC cut NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, NIO has a consensus rating of "Hold" and a consensus target price of $5.71.

NIO Trading Up 0.2 %

The stock has a market cap of $7.03 billion, a PE ratio of -2.71 and a beta of 1.70. 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 company has a 50 day moving average of $4.57 and a two-hundred day moving average of $4.80.

Institutional Investors Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its holdings in shares of NIO by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company's stock valued at $866,000 after acquiring an additional 3,539 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of NIO by 8.4% in the second quarter. American Century Companies Inc. now owns 434,248 shares of the company's stock worth $1,806,000 after buying an additional 33,788 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in NIO by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company's stock worth $5,742,000 after acquiring an additional 3,548 shares during the last quarter. Greenwich Wealth Management LLC grew its stake in NIO by 12.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company's stock valued at $121,000 after acquiring an additional 3,315 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in NIO in the 2nd quarter worth approximately $1,076,000. 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.

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