NIO (NYSE:NIO) Trading Down 0.8% - What's Next?

Nio Inc - (NYSE:NIO - Get Free Report)'s stock price dropped 0.8% on Thursday . The company traded as low as $4.35 and last traded at $4.36. Approximately 20,905,899 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 44,370,176 shares. The stock had previously closed at $4.39.

Analysts Set New Price Targets

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

NIO Trading Down 1.7 %

The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of -2.89 and a beta of 1.69. The firm's 50 day moving average is $4.35 and its 200 day moving average is $4.77. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Large investors have recently made changes to their positions in the company. Vident Advisory LLC raised its holdings in shares of NIO by 60.6% during the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company's stock valued at $235,000 after acquiring an additional 20,349 shares during the period. Vienna Asset Management LLC acquired a new stake in shares of NIO during the fourth quarter valued at approximately $100,000. Laird Norton Wetherby Trust Company LLC acquired a new stake in shares of NIO during the fourth quarter valued at approximately $93,000. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of 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 during the fourth quarter valued at approximately $541,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.