NIO (NYSE:NIO) Shares Down 2% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares were down 2% during mid-day trading on Tuesday . The stock traded as low as $4.10 and last traded at $4.15. Approximately 15,941,256 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 54,618,384 shares. The stock had previously closed at $4.23.

Analysts Set New Price Targets

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

NIO Stock Performance

The stock has a 50-day moving average of $4.35 and a 200 day moving average of $4.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of -2.88 and a beta of 1.81.

Hedge Funds Weigh In On NIO

Several institutional investors have recently modified their holdings of NIO. Toronto Dominion Bank lifted its stake in NIO by 1,652,962.5% in the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after acquiring an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in NIO in the 4th quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC bought a new stake in NIO in the 4th quarter valued at approximately $537,000. FMR LLC lifted its stake in NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in NIO in the 3rd quarter valued at approximately $1,327,000. Institutional investors own 48.55% of the company's stock.

About NIO

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.