Nio Inc - (NYSE:NIO - Get Free Report) shares fell 2.5% during mid-day trading on Friday . The company traded as low as $4.19 and last traded at $4.21. 17,353,545 shares were traded during mid-day trading, a decline of 63% from the average session volume of 46,537,555 shares. The stock had previously closed at $4.32.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Macquarie lowered 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. Daiwa America raised NIO to a "strong-buy" rating in a report on Monday, September 30th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and cut their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.71.
View Our Latest Stock Report on NIO
NIO Stock Performance
The firm has a market capitalization of $7.17 billion, a PE ratio of -2.76 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business's fifty day simple moving average is $4.63 and its 200-day simple moving average is $4.80.
Institutional Trading of NIO
Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the third quarter valued at about $32,000. Caprock Group LLC bought a new position in NIO during the second quarter valued at approximately $63,000. AE Wealth Management LLC purchased a new position in NIO during the 2nd quarter valued at approximately $75,000. First Trust Direct Indexing L.P. bought a new stake in NIO in the 3rd quarter worth approximately $76,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of NIO during the 3rd quarter worth approximately $78,000. 48.55% of the stock is currently owned by institutional investors.
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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