NIO (NYSE:NIO) Trading Down 3.8% – Here’s Why

Shares of Nio Inc – (NYSE:NIO) were down 3.8% during mid-day trading on Wednesday . The stock traded as low as $4.26 and last traded at $4.34. Approximately 22,872,255 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 47,111,617 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.71.

NIO Price Performance

The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -2.76 and a beta of 1.70. 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 business’s fifty day simple moving average is $4.63 and its 200 day simple moving average is $4.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NIO. Principal Financial Group Inc. grew its holdings in NIO by 140.2% in the 3rd quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock worth $502,000 after buying an additional 43,839 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of NIO during the third quarter worth $374,000. Tidal Investments LLC boosted its holdings in shares of NIO by 2.4% in the third quarter. Tidal Investments LLC now owns 280,140 shares of the company’s stock worth $1,871,000 after buying an additional 6,545 shares during the period. Sanctuary Advisors LLC grew its position in NIO by 63.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company’s stock worth $553,000 after purchasing an additional 32,069 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after buying an additional 132,237 shares during the period. 48.55% of the stock is 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.