NIO (NYSE:NIO) Stock Price Down 2.9% – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on NIO shares. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Finally, Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm has a market cap of $8.94 billion, a PE ratio of -2.84 and a beta of 1.70. The business has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $4.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of NIO during the third quarter valued at $32,000. Blue Trust Inc. boosted its position in NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after purchasing an additional 3,607 shares during the last quarter. Trilogy Capital Inc. acquired a new stake in NIO during the fourth quarter valued at $45,000. First Trust Direct Indexing L.P. acquired a new stake in NIO during the third quarter valued at $76,000. Finally, Apollon Wealth Management LLC acquired a new stake in NIO during the third quarter valued at $78,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

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.