NIO (NYSE:NIO) Trading Down 0.1% – What’s Next?

Nio Inc – (NYSE:NIO) fell 0.1% during trading on Tuesday . The stock traded as low as $4.38 and last traded at $4.44. 21,749,784 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 43,474,691 shares. The stock had previously closed at $4.44.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NIO shares. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut 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 note on Tuesday, January 7th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded 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, February 4th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.38.

NIO Price Performance

The company’s 50 day simple moving average is $4.35 and its 200 day simple moving average is $4.75. 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 stock has a market capitalization of $9.13 billion, a PE ratio of -2.90 and a beta of 1.68.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in NIO in the third quarter valued at approximately $32,000. Jones Financial Companies Lllp boosted its position in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC acquired a new position in shares of NIO during the fourth quarter worth approximately $44,000. Finally, Sava Infond d.o.o. acquired a new stake in NIO in the fourth quarter worth approximately $44,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

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.