NIO (NYSE:NIO) Shares Down 2.9% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report)'s share price traded down 2.9% during trading on Monday . The company traded as low as $4.11 and last traded at $4.20. 17,874,218 shares traded hands during trading, a decline of 56% from the average session volume of 40,601,543 shares. The stock had previously closed at $4.32.

Analyst Ratings Changes

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

NIO Trading Up 0.8 %

The stock has a market cap of $8.84 billion, a PE ratio of -2.80 and a beta of 1.68. 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 has a 50-day simple moving average of $4.42 and a 200-day simple moving average of $4.75.

Institutional Investors Weigh In On NIO

A number of institutional investors and hedge funds have recently modified their holdings of NIO. Generali Investments CEE investicni spolecnost a.s. purchased a new position in NIO during the fourth quarter worth about $67,000. Callan Family Office LLC bought a new stake in shares of NIO during the 4th quarter valued at about $44,000. Raymond James Financial Inc. purchased a new position in shares of NIO during the fourth quarter worth about $1,776,000. WMG Financial Advisors LLC increased its position in shares of NIO by 37.7% in the fourth quarter. WMG Financial Advisors LLC now owns 381,535 shares of the company's stock worth $1,663,000 after purchasing an additional 104,478 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in NIO in the fourth quarter valued at approximately $1,360,000. 48.55% of the stock is owned by hedge funds and other 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.