NIO (NYSE:NIO) Trading Down 1.7% - Here's Why

Shares of Nio Inc - (NYSE:NIO - Get Free Report) were down 1.7% during mid-day trading on Wednesday . The stock traded as low as $5.04 and last traded at $5.13. Approximately 47,808,456 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 54,730,656 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

Several research firms have weighed in on NIO. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC lowered shares of NIO from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. 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. Finally, Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and lowered 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, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $5.30.

NIO Price Performance

The firm has a market cap of $10.70 billion, a PE ratio of -3.39 and a beta of 1.81. The company has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.82. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after buying an additional 4,332 shares in the last quarter. Callan Family Office LLC acquired a new stake in NIO during the 4th quarter valued at $44,000. Sava Infond d.o.o. purchased a new position in NIO during the fourth quarter worth $44,000. Finally, Trilogy Capital Inc. purchased a new stake in NIO during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 48.55% of the company's stock.

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.

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