NIO (NYSE:NIO) Trading Down 2.9% – What’s Next?

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

Analysts Set New Price Targets

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

NIO Stock Performance

The firm has a market cap of $8.76 billion, a P/E ratio of -2.78 and a beta of 1.69. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average is $4.43 and its two-hundred day moving average is $4.76.

Hedge Funds Weigh In On NIO

Hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake 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 worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Quadrature Capital Ltd boosted its position in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the period. SG Americas Securities LLC increased its holdings in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after purchasing an additional 589,082 shares during the period. Swedbank AB boosted its position in shares of NIO by 0.8% during the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in NIO in the 3rd quarter worth approximately $4,879,000. 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.