NIO (NYSE:NIO) Shares Gap Down - Here's What Happened

Shares of Nio Inc - (NYSE:NIO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $4.63, but opened at $4.49. NIO shares last traded at $4.42, with a volume of 15,991,460 shares traded.

Analyst Ratings Changes

NIO has been the topic of several research reports. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $5.38.

NIO Stock Performance

The stock has a market capitalization of $8.80 billion, a P/E ratio of -2.79 and a beta of 1.68. The company's fifty day simple moving average is $4.36 and its two-hundred day simple moving average is $4.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Trading of NIO

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after acquiring an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the third quarter worth approximately $32,000. Jones Financial Companies Lllp raised its position in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after buying an additional 4,332 shares in the last quarter. Callan Family Office LLC acquired a new stake in NIO during the fourth quarter worth approximately $44,000. Finally, Sava Infond d.o.o. bought a new position in NIO during the 4th quarter worth $44,000. 48.55% of the stock is currently owned by institutional investors.

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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