NIO (NYSE:NIO) Shares Down 0.9% – What’s Next?

Nio Inc – (NYSE:NIO)’s share price was down 0.9% during trading on Monday . The company traded as low as $4.48 and last traded at $4.50. Approximately 11,828,409 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 56,402,871 shares. The stock had previously closed at $4.54.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NIO shares. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Bank of America increased their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Trading Down 0.9 %

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 $7.74 billion, a price-to-earnings ratio of -2.98 and a beta of 1.77. The business has a 50 day simple moving average of $4.87 and a 200-day simple moving average of $4.81.

Hedge Funds Weigh In On NIO

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its stake in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after buying an additional 4,018,659 shares during the period. FMR LLC raised its holdings 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 valued at $36,038,000 after buying an additional 5,296,601 shares during the period. Quadrature Capital Ltd grew its position in 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 in the last quarter. Krane Funds Advisors LLC raised its stake in shares of NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after purchasing an additional 370,556 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after purchasing an additional 343,910 shares in the last quarter. Institutional investors and hedge funds 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.