NIO (NYSE:NIO) Shares Down 1.9% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price dropped 1.9% during mid-day trading on Tuesday . The stock traded as low as $4.29 and last traded at $4.28. Approximately 23,771,768 shares traded hands during trading, a decline of 48% from the average daily volume of 45,589,773 shares. The stock had previously closed at $4.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NIO shares. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered 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 report on Tuesday, February 4th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.38.

NIO Stock Down 1.5 %

The stock’s fifty day moving average price is $4.35 and its 200 day moving average price is $4.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market cap of $8.96 billion, a P/E ratio of -2.84 and a beta of 1.69.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NIO. Shufro Rose & Co. LLC purchased a new position in shares of NIO in the 4th quarter worth about $65,000. Vident Advisory LLC lifted its position in NIO by 60.6% in the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after buying an additional 20,349 shares during the last quarter. Vienna Asset Management LLC purchased a new stake in NIO in the fourth quarter worth approximately $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in NIO in the fourth quarter worth approximately $93,000. Finally, Laird Norton Wetherby Wealth Management LLC grew its position in NIO by 15.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after acquiring an additional 8,746 shares during the last quarter. 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.