NIO (NYSE:NIO) Cut to “Hold” at Hsbc Global Res

NIO (NYSE:NIO) was downgraded by Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group cut shares of 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 report on Monday, November 25th. Macquarie cut 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. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $5.71.

NIO Price Performance

Shares of NIO stock opened at $4.32 on Tuesday. The stock has a 50 day moving average price of $4.67 and a 200 day moving average price of $4.81. NIO has a 52-week low of $3.61 and a 52-week high of $7.84. 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 $7.43 billion, a P/E ratio of -2.86 and a beta of 1.70.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in NIO in the 3rd quarter worth approximately $32,000. First Trust Direct Indexing L.P. acquired a new stake in shares of NIO during the third quarter worth $76,000. Apollon Wealth Management LLC purchased a new stake in shares of NIO during the third quarter valued at $78,000. Sivia Capital Partners LLC acquired a new position in shares of NIO in the 3rd quarter valued at $92,000. Finally, Avior Wealth Management LLC raised its stake in NIO by 106.1% in the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after acquiring an additional 7,510 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

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.