NIO (NYSE:NIO) Shares Down 0.2% – Here’s Why

Nio Inc – (NYSE:NIOGet Free Report) shares dropped 0.2% during trading on Tuesday . The company traded as low as $4.05 and last traded at $4.05. Approximately 15,878,946 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 44,439,906 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NIO shares. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus target price of $5.71.

Get Our Latest Research Report on NIO

NIO Stock Up 1.3 %

The business has a 50-day moving average price of $4.55 and a 200 day moving average price of $4.80. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Trading of NIO

A number of large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its holdings in shares of NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after acquiring an additional 4,018,659 shares during the last quarter. FMR LLC lifted its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of NIO by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock valued at $5,742,000 after purchasing an additional 3,548 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its holdings in NIO by 2.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 1,089,571 shares of the company’s stock valued at $4,533,000 after buying an additional 26,253 shares during the period. 48.55% of the stock is currently owned by institutional investors.

NIO Company Profile

(Get Free Report)

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.

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