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

Nio Inc - (NYSE:NIO - Get Free Report) traded down 0.7% during mid-day trading on Monday . The stock traded as low as $4.33 and last traded at $4.45. 14,667,809 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 56,041,828 shares. The stock had previously closed at $4.48.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NIO shares. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Citigroup cut their target price on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. The Goldman Sachs Group downgraded NIO from a "neutral" rating to a "sell" rating and decreased their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, NIO has an average rating of "Hold" and an average target price of $5.71.

NIO Price Performance

The firm has a 50 day moving average price of $4.79 and a two-hundred day moving average price of $4.80. The company has a market cap of $7.53 billion, a P/E ratio of -2.90 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in NIO in the 3rd quarter worth approximately $32,000. First Trust Direct Indexing L.P. purchased a new stake in shares of NIO during the third quarter worth $76,000. Apollon Wealth Management LLC bought a new position in shares of NIO in the third quarter worth $78,000. Sivia Capital Partners LLC purchased a new position in shares of NIO in the third quarter valued at $92,000. Finally, Avior Wealth Management LLC raised its stake in shares of NIO by 106.1% during the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company's stock valued at $97,000 after purchasing an additional 7,510 shares during the period. Hedge funds and other institutional investors 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.