NIO (NYSE:NIO) Trading Down 2.5% – Here’s Why

Nio Inc – (NYSE:NIO)’s share price dropped 2.5% during mid-day trading on Friday . The stock traded as low as $4.19 and last traded at $4.21. Approximately 17,353,545 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 46,537,555 shares. The stock had previously closed at $4.32.

Wall Street Analysts Forecast Growth

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

NIO Stock Down 3.5 %

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 company has a market cap of $7.17 billion, a price-to-earnings ratio of -2.76 and a beta of 1.70. The stock has a fifty day moving average price of $4.62 and a two-hundred day moving average price of $4.80.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC raised its position in NIO by 11.5% during the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after purchasing an additional 2,482 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after purchasing an additional 2,588 shares during the period. Greenwich Wealth Management LLC lifted its holdings in NIO by 12.9% in the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock valued at $121,000 after buying an additional 3,315 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of NIO by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock valued at $866,000 after purchasing an additional 3,539 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings 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 worth $5,742,000 after buying an additional 3,548 shares in the last quarter. 48.55% of the stock is 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.