Nio Inc – (NYSE:NIO – Get Free Report) fell 0.4% on Wednesday . The stock traded as low as $4.13 and last traded at $4.16. 9,335,197 shares were traded during trading, a decline of 77% from the average session volume of 40,984,918 shares. The stock had previously closed at $4.18.
Wall Street Analyst Weigh In
NIO has been the subject of a number of recent research reports. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.71.
Check Out Our Latest Report on NIO
NIO Price Performance
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC purchased a new position in NIO during the 3rd 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 worth $27,000 after purchasing an additional 3,607 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of NIO during the 3rd quarter worth approximately $76,000. Apollon Wealth Management LLC purchased a new stake in shares of NIO in the 3rd quarter valued at approximately $78,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of NIO in the third quarter valued at approximately $92,000. Institutional investors 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.
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