Nio Inc - (NYSE:NIO - Get Free Report)'s share price traded down 3.8% during mid-day trading on Wednesday . The stock traded as low as $4.26 and last traded at $4.34. 22,872,255 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 47,111,617 shares. The stock had previously closed at $4.51.
Analyst Ratings Changes
NIO has been the subject of a number of analyst reports. Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a research note on Monday, September 30th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and reduced 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, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.71.
Check Out Our Latest Report on NIO
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 company has a market cap of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. The business's fifty day moving average is $4.67 and its 200-day moving average is $4.81.
Institutional Investors Weigh In On NIO
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after buying an additional 5,296,601 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock valued at $26,891,000 after buying an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of NIO during the third quarter valued at approximately $4,879,000. Quadrature Capital Ltd raised its position in shares of NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after buying an additional 538,907 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its position in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock valued at $6,401,000 after buying an additional 370,556 shares during the last quarter. 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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