NIO (NYSE:NIO) Stock Price Down 4% – Here’s What Happened

Nio Inc – (NYSE:NIO) dropped 4% on Wednesday . The company traded as low as $4.21 and last traded at $4.22. Approximately 13,661,616 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 41,624,594 shares. The stock had previously closed at $4.39.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NIO. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $4.70 in a report on Tuesday. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded 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 note on Monday, November 25th. Finally, Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus target price of $5.38.

NIO Price Performance

The company has a market capitalization of $8.78 billion, a PE ratio of -2.78 and a beta of 1.69. The stock has a 50 day moving average price of $4.43 and a two-hundred day moving average price of $4.76. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Institutional Trading of NIO

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in NIO during the 3rd quarter worth approximately $32,000. Trilogy Capital Inc. bought a new position in shares of NIO in the 4th quarter valued at about $45,000. U.S. Capital Wealth Advisors LLC bought a new stake in NIO during the fourth quarter worth $53,000. Finally, ABC Arbitrage SA bought a new position in NIO during the fourth quarter worth about $55,000. 48.55% of the stock is owned by 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.