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

Nio Inc – (NYSE:NIO) shares fell 0.1% on Tuesday . The company traded as low as $4.38 and last traded at $4.44. 21,749,784 shares traded hands during 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 brokerages have recently weighed in on NIO. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie cut 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 research note on Wednesday, November 20th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.38.

NIO Stock Performance

The stock’s 50-day moving average is $4.37 and its 200-day moving average is $4.75. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of -2.88 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently made changes to their positions in NIO. Truist Financial Corp boosted its holdings in shares of NIO by 32.2% in the 2nd quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock valued at $105,000 after purchasing an additional 6,150 shares during the last quarter. Creative Planning boosted its holdings in shares of NIO by 8.3% in the 3rd quarter. Creative Planning now owns 290,558 shares of the company’s stock valued at $1,941,000 after purchasing an additional 22,240 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the 3rd quarter valued at $32,000. Signaturefd LLC boosted its holdings in shares of NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after purchasing an additional 7,014 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of NIO by 22.6% in the 3rd quarter. Private Advisor Group LLC now owns 84,032 shares of the company’s stock valued at $561,000 after purchasing an additional 15,509 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.