NIO (NYSE:NIO) Trading Down 2.9% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report)'s share price dropped 2.9% during trading on Monday . The company traded as low as $4.01 and last traded at $4.05. Approximately 15,789,401 shares changed hands during trading, a decline of 65% from the average daily volume of 45,558,695 shares. The stock had previously closed at $4.17.

Analyst Ratings Changes

NIO has been the subject of a number of research analyst reports. HSBC cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Daiwa America raised NIO to a "strong-buy" rating in a research report on Monday, September 30th. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and reduced their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie downgraded NIO from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, NIO currently has a consensus rating of "Hold" and an average target price of $5.71.

NIO Price Performance

The company has a market capitalization of $7.00 billion, a P/E ratio of -2.70 and a beta of 1.70. The business has a 50 day simple moving average of $4.62 and a 200-day simple moving average of $4.80. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NIO. FNY Investment Advisers LLC boosted its holdings in NIO by 352.6% in the 4th quarter. FNY Investment Advisers LLC now owns 145,430 shares of the company's stock valued at $634,000 after purchasing an additional 113,296 shares during the period. Principal Financial Group Inc. boosted its holdings in NIO by 140.2% in the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock valued at $502,000 after acquiring an additional 43,839 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of NIO in the 3rd quarter valued at about $374,000. Tidal Investments LLC raised its position in shares of NIO by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock valued at $1,871,000 after acquiring an additional 6,545 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in NIO by 63.1% in the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after purchasing an additional 32,069 shares during the last quarter. Hedge funds and other 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.