NIO (NYSE:NIO) Stock Price Down 0.7% – Here’s Why

Nio Inc – (NYSE:NIO) dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $4.02 and last traded at $4.05. Approximately 14,092,116 shares were traded during trading, a decline of 67% from the average daily volume of 42,968,984 shares. The stock had previously closed at $4.08.

Wall Street Analysts Forecast Growth

NIO has been the topic of several analyst reports. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Price Performance

The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of -2.69 and a beta of 1.70. 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 company’s 50 day moving average is $4.57 and its 200 day moving average is $4.80.

Institutional Investors Weigh In On NIO

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in NIO during the third quarter worth about $32,000. First Trust Direct Indexing L.P. acquired a new stake in NIO during the third quarter worth about $76,000. Apollon Wealth Management LLC acquired a new stake in NIO during the third quarter worth about $78,000. Sivia Capital Partners LLC acquired a new stake in NIO during the third quarter worth about $92,000. Finally, Avior Wealth Management LLC grew its stake in NIO by 106.1% during the third quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock worth $97,000 after buying an additional 7,510 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.