NIO (NYSE:NIO) Trading Down 6.6% – What’s Next?

Nio Inc – (NYSE:NIO) shares traded down 6.6% during trading on Tuesday . The company traded as low as $4.80 and last traded at $4.84. 28,199,555 shares were traded during trading, a decline of 51% from the average session volume of 56,982,113 shares. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NIO shares. Wolfe Research started coverage on shares of NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Down 8.3 %

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 business has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $4.84. The stock has a market cap of $8.17 billion, a P/E ratio of -3.21 and a beta of 1.77.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NIO. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the third quarter valued at about $32,000. Ridgewood Investments LLC acquired a new stake in NIO in the 2nd quarter valued at approximately $25,000. First Trust Direct Indexing L.P. bought a new position in NIO in the 3rd quarter worth approximately $76,000. Apollon Wealth Management LLC acquired a new position in shares of NIO during the third quarter worth approximately $78,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of NIO in the second quarter valued at approximately $53,000. 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.