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

Nio Inc – (NYSE:NIO)’s share price traded down 2.5% during mid-day trading on Tuesday . The company traded as low as $4.55 and last traded at $4.59. 16,923,074 shares were traded during trading, a decline of 59% from the average session volume of 41,548,195 shares. The stock had previously closed at $4.71.

Analysts Set New Price Targets

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

NIO Price Performance

The stock has a 50 day moving average of $4.69 and a two-hundred day moving average of $4.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a market capitalization of $7.77 billion, a P/E ratio of -2.99 and a beta of 1.70.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NIO. Point72 Asset Management L.P. raised its position in NIO by 164.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. FMR LLC lifted its stake in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Quadrature Capital Ltd increased its position in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the period. Krane Funds Advisors LLC grew its position in shares of NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after buying an additional 370,556 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

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.