NIO (NYSE:NIO) Stock Price Down 1.7% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) dropped 1.7% during mid-day trading on Wednesday . The company traded as low as $5.04 and last traded at $5.13. Approximately 47,808,456 shares changed hands during trading, a decline of 13% from the average daily volume of 54,730,656 shares. The stock had previously closed at $5.22.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.30.

NIO Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of -3.39 and a beta of 1.81. The firm’s fifty day moving average is $4.35 and its 200-day moving average is $4.82.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently bought and sold shares of the company. PDS Planning Inc grew its position in shares of NIO by 13.0% in the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock worth $99,000 after acquiring an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of NIO by 25.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after buying an additional 2,712 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after buying an additional 2,788 shares during the period. Perigon Wealth Management LLC grew its position in shares of NIO by 24.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after buying an additional 2,867 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in NIO by 17.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock worth $94,000 after acquiring an additional 3,152 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.