Nio Inc – (NYSE:NIO – Get Free Report) traded down 6.8% during mid-day trading on Thursday . The stock traded as low as $4.72 and last traded at $4.75. 31,341,181 shares were traded during mid-day trading, a decline of 43% from the average session volume of 54,844,938 shares. The stock had previously closed at $5.10.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.03.
Read Our Latest Stock Analysis on NIO
NIO Stock Up 3.3 %
Institutional Trading of NIO
Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank raised its holdings in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares during the period. SBI Securities Co. Ltd. acquired a new stake in NIO during the 4th quarter worth approximately $1,360,000. AlphaStar Capital Management LLC acquired a new stake in NIO during the 4th quarter worth approximately $537,000. FMR LLC raised its holdings in NIO by 5,388.5% during the 3rd 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 during the period. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO during the 3rd quarter worth approximately $1,327,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than NIO
- How to Use the MarketBeat Dividend Calculator
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- About the Markup Calculator
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
- Why Are These Companies Considered Blue Chips?
- Why Costco Stock Is Poised to Hit $1,000 Again Soon
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.