Nio Inc - (NYSE:NIO - Get Free Report) rose 1.7% during mid-day trading on Wednesday . The company traded as high as $4.52 and last traded at $4.44. Approximately 18,425,814 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 43,335,148 shares. The stock had previously closed at $4.36.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. The Goldman Sachs Group downgraded 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. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. 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 cut NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.38.
Get Our Latest Stock Analysis on NIO
NIO Stock Performance
The stock has a fifty day moving average price of $4.35 and a 200 day moving average price of $4.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -2.89 and a beta of 1.69.
Hedge Funds Weigh In On NIO
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NIO. Vident Advisory LLC boosted its holdings in shares of NIO by 60.6% during the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company's stock worth $235,000 after buying an additional 20,349 shares during the period. Vienna Asset Management LLC acquired a new position in NIO during the 4th quarter worth $100,000. Laird Norton Wetherby Trust Company LLC acquired a new position in NIO during the 4th quarter worth $93,000. Laird Norton Wetherby Wealth Management LLC boosted its holdings in NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company's stock valued at $290,000 after acquiring an additional 8,746 shares during the period. Finally, J. Goldman & Co LP acquired a new stake in shares of NIO in the fourth quarter valued at about $541,000. Institutional investors and hedge funds own 48.55% of the company's stock.
NIO Company Profile
(
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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