NIO (NYSE:NIO) Stock Price Down 0.5% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) fell 0.5% during trading on Wednesday . The stock traded as low as $4.35 and last traded at $4.36. 39,648,980 shares traded hands during trading, a decline of 29% from the average session volume of 56,068,160 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and cut their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Daiwa America raised shares of NIO to a "strong-buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded NIO from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.71.

NIO Trading Down 0.5 %

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 company has a market capitalization of $7.50 billion, a PE ratio of -2.89 and a beta of 1.77. The stock's 50 day moving average is $4.74 and its two-hundred day moving average is $4.80.

Hedge Funds Weigh In On NIO

Hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC grew its stake in NIO by 11.5% in the third 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 during the last quarter. Atomi Financial Group Inc. raised its stake in shares of NIO by 15.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock worth $129,000 after acquiring an additional 2,588 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in NIO by 12.9% during the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company's stock valued at $121,000 after acquiring an additional 3,315 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in NIO by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company's stock valued at $866,000 after acquiring an additional 3,539 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in NIO by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company's stock worth $5,742,000 after purchasing an additional 3,548 shares during the last quarter. 48.55% of the stock is currently 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.