NIO (NYSE:NIO) Trading Down 0.1% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report) shares traded down 0.1% during trading on Tuesday . The company traded as low as $4.38 and last traded at $4.44. 21,749,784 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 43,474,691 shares. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

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

NIO Stock Up 1.7 %

The stock has a market capitalization of $9.28 billion, a PE ratio of -2.94 and a beta of 1.68. The firm has a 50 day moving average of $4.35 and a two-hundred day moving average of $4.75. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

Several hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC increased its stake in NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company's stock valued at $160,000 after purchasing an additional 2,482 shares in the last quarter. PDS Planning Inc increased its stake in NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after purchasing an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company's stock worth $59,000 after buying an additional 2,712 shares in the last quarter. Franklin Resources Inc. increased its position in NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock worth $72,000 after buying an additional 2,788 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in NIO by 24.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after buying an additional 2,867 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Company Profile

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.