NIO (NYSE:NIO) Stock Price Down 4% – What’s Next?

Nio Inc – (NYSE:NIO) was down 4% during mid-day trading on Wednesday . The stock traded as low as $4.21 and last traded at $4.22. Approximately 13,661,616 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 41,624,594 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NIO. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $4.70 in a report on Tuesday. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.38.

NIO Stock Down 4.2 %

The company has a market cap of $8.78 billion, a PE ratio of -2.78 and a beta of 1.69. The business has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $4.76. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Quadrature Capital Ltd raised its position in shares of NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares during the period. SG Americas Securities LLC lifted its holdings in NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock valued at $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Swedbank AB increased its stake in NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock worth $4,657,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in NIO in the third quarter valued at $4,879,000. Institutional investors and hedge funds 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.