NIO (NYSE:NIO) Stock Price Down 6.9% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price was down 6.9% on Thursday . The stock traded as low as $4.83 and last traded at $4.82. Approximately 22,705,822 shares changed hands during trading, a decline of 59% from the average daily volume of 54,929,676 shares. The stock had previously closed at $5.17.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Finally, HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and a consensus price target of $5.03.

NIO Price Performance

The firm has a fifty day moving average price of $4.43 and a two-hundred day moving average price of $4.86. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $9.40 billion, a P/E ratio of -2.98 and a beta of 1.81.

Institutional Trading of NIO

A number of institutional investors and hedge funds have recently bought and sold shares of NIO. FMR LLC lifted its stake in shares of NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Quadrature Capital Ltd lifted its position in NIO by 32.3% in the 3rd 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. Bridgewater Associates LP lifted its position in NIO by 28.6% in the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company’s stock valued at $5,170,000 after acquiring an additional 263,338 shares in the last quarter. SG Americas Securities LLC boosted its stake in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after purchasing an additional 589,082 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,000 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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.