NIO (NYSE:NIO) Stock Price Down 0.1% – What’s Next?

Nio Inc – (NYSE:NIO) fell 0.1% during mid-day trading on Tuesday . The stock traded as low as $4.38 and last traded at $4.44. 21,749,784 shares were traded during mid-day trading, a decline of 50% from the average session volume of 43,474,691 shares. The stock had previously closed at $4.44.

Analysts Set New Price Targets

Several research firms have issued reports on NIO. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIO presently has a consensus rating of “Hold” and an average target price of $5.38.

NIO Stock Performance

The firm’s fifty day moving average price is $4.35 and its 200 day moving average price is $4.75. 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 firm has a market capitalization of $9.13 billion, a PE ratio of -2.90 and a beta of 1.68.

Hedge Funds Weigh In On NIO

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC grew its holdings in shares of NIO by 11.5% during the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares in the last quarter. PDS Planning Inc grew its holdings in shares of NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after acquiring an additional 2,627 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of NIO by 25.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock valued at $59,000 after acquiring an additional 2,712 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock valued at $72,000 after acquiring an additional 2,788 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in NIO by 24.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.