NIO (NYSE:NIO) Shares Down 0.8% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price fell 0.8% on Thursday . The company traded as low as $4.28 and last traded at $4.32. 10,825,650 shares were traded during trading, a decline of 80% from the average session volume of 54,201,619 shares. The stock had previously closed at $4.35.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NIO shares. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $5.38.

NIO Price Performance

The stock has a market cap of $8.84 billion, a P/E ratio of -2.81 and a beta of 1.81. The business has a 50 day simple moving average of $4.34 and a 200-day simple moving average of $4.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On NIO

Institutional investors have recently added to or reduced their stakes in the stock. Shufro Rose & Co. LLC bought a new position in shares of NIO during the 4th quarter valued at approximately $65,000. Vident Advisory LLC lifted its stake in NIO by 60.6% in the fourth quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock valued at $235,000 after purchasing an additional 20,349 shares during the last quarter. Vienna Asset Management LLC bought a new position in NIO during the fourth quarter valued at $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in NIO in the fourth quarter worth $93,000. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in shares of NIO by 15.1% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock valued at $290,000 after buying an additional 8,746 shares during the period. Institutional investors own 48.55% of the company’s stock.

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.