NIO (NYSE:NIO) Stock Price Down 4% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price was down 4% during trading on Wednesday . The stock traded as low as $4.21 and last traded at $4.22. Approximately 13,661,616 shares traded hands during trading, a decline of 67% from the average daily volume of 41,624,594 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

Several equities analysts have recently commented on NIO shares. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $4.70 in a research note on Tuesday. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their price target 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, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.38.

NIO Price Performance

The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of -2.80 and a beta of 1.68. The business has a fifty day moving average price of $4.42 and a 200 day moving average price of $4.75. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Trading of NIO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in 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 period. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the 3rd quarter valued at about $32,000. Jones Financial Companies Lllp grew its stake in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of NIO in the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new stake in NIO during the fourth quarter valued at approximately $45,000. 48.55% of the stock is currently owned by 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.