NIO (NYSE:NIO) Trading Down 0.2% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price was down 0.2% during trading on Tuesday . The company traded as low as $4.05 and last traded at $4.05. Approximately 15,878,946 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 44,439,906 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

A number of brokerages have issued reports on NIO. Daiwa America raised shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Macquarie cut 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 report on Wednesday, November 20th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and lowered their target price 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, January 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIO presently has a consensus rating of "Hold" and a consensus target price of $5.71.

NIO Trading Up 0.2 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm's 50 day moving average is $4.60 and its two-hundred day moving average is $4.80. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of -2.70 and a beta of 1.70.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Renaissance Technologies LLC acquired a new stake in shares of NIO in the 2nd quarter worth approximately $1,076,000. International Assets Investment Management LLC boosted its stake in NIO by 580.9% during the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock valued at $2,621,000 after purchasing an additional 334,723 shares in the last quarter. Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. FMR LLC increased its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC bought a new stake in shares of NIO in the 3rd quarter worth $1,327,000. 48.55% of the stock is owned by institutional investors.

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.