NIO (NYSE:NIO) Shares Down 0.9% – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price traded down 0.9% on Monday . The company traded as low as $4.48 and last traded at $4.50. 11,828,409 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 56,402,871 shares. The stock had previously closed at $4.54.

Analyst Upgrades and Downgrades

NIO has been the subject of several research reports. Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIO currently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The stock has a market cap of $7.74 billion, a PE ratio of -2.98 and a beta of 1.77. 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 stock’s 50-day moving average is $4.87 and its two-hundred day moving average is $4.81.

Institutional Trading of NIO

Large investors have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in shares of NIO in the 2nd quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in NIO in the 3rd quarter valued at $32,000. Caprock Group LLC purchased a new position in NIO during the 2nd quarter worth $63,000. Atomi Financial Group Inc. acquired a new stake in shares of NIO in the 2nd quarter worth $70,000. Finally, AE Wealth Management LLC purchased a new stake in shares of NIO in the second quarter valued at about $75,000. Institutional investors and hedge funds 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.