NIO (NYSE:NIO) Shares Down 4% - What's Next?

Shares of Nio Inc - (NYSE:NIO - Get Free Report) traded down 4% during mid-day trading on Wednesday . The company traded as low as $4.21 and last traded at $4.22. 13,661,616 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 41,624,594 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

NIO has been the subject of several recent analyst reports. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. HSBC lowered NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut 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 research note on Monday, November 25th. Macquarie lowered 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, JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.38.

NIO Stock Up 2.0 %

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 stock's 50-day moving average price is $4.42 and its two-hundred day moving average price is $4.76. The stock has a market capitalization of $9.03 billion, a PE ratio of -2.86 and a beta of 1.68.

Institutional Investors Weigh In On NIO

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in NIO during the third quarter valued at $32,000. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after acquiring an additional 4,332 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of NIO in the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. bought a new position in shares of NIO during the fourth quarter valued at $45,000. 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.