NIO (NYSE:NIO) Trading Down 0.7% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) was down 0.7% on Wednesday . The stock traded as low as $4.02 and last traded at $4.05. Approximately 14,092,116 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 42,968,984 shares. The stock had previously closed at $4.08.

Analysts Set New Price Targets

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

NIO Price Performance

The company has a market cap of $7.03 billion, a P/E ratio of -2.71 and a beta of 1.70. The company's 50-day moving average price is $4.55 and its two-hundred day moving average price is $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.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in NIO during the 3rd quarter worth $32,000. AE Wealth Management LLC acquired a new stake in NIO in the second quarter worth about $75,000. First Trust Direct Indexing L.P. acquired a new position in NIO during the 3rd quarter valued at about $76,000. Apollon Wealth Management LLC acquired a new position in NIO during the 3rd quarter valued at about $78,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of NIO during the 3rd quarter worth about $92,000. 48.55% of the stock is 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.