NIO (NYSE:NIO) Trading Down 2.5% – What’s Next?

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

Wall Street Analyst Weigh In

NIO has been the subject of several analyst reports. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and decreased their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NIO currently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Down 4.0 %

The company has a market cap of $7.77 billion, a P/E ratio of -2.99 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 business’s 50 day moving average is $4.69 and its 200 day moving average is $4.81.

Hedge Funds Weigh In On NIO

A number of hedge funds have recently modified their holdings of NIO. Renaissance Technologies LLC acquired a new stake in shares of NIO during the second quarter valued at about $1,076,000. International Assets Investment Management LLC raised its position in NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares during the period. Toronto Dominion Bank boosted its position in shares of NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares during the period. FMR LLC lifted its stake in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in shares of NIO in the third quarter valued at approximately $1,327,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

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.