NIO (NYSE:NIO) Shares Down 4.6% – Here’s What Happened

Nio Inc – (NYSE:NIO) shares traded down 4.6% on Friday . The stock traded as low as $4.36 and last traded at $4.49. 45,166,065 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 55,087,727 shares. The stock had previously closed at $4.71.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NIO. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and decreased their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.03.

NIO Trading Down 4.4 %

The stock’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.86. The firm has a market cap of $9.40 billion, a PE ratio of -2.99 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Institutional Trading of NIO

A number of hedge funds and other institutional investors have recently made changes to their positions in NIO. FMR LLC increased its stake in shares of NIO by 5,388.5% in the third 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 during the period. Trexquant Investment LP acquired a new stake in shares of NIO in the fourth quarter worth $3,305,000. Point72 Hong Kong Ltd acquired a new stake in shares of NIO in the third quarter worth $4,879,000. SG Americas Securities LLC increased its stake in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares during the period. Finally, Quadrature Capital Ltd increased its stake in shares of NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares during the period. Institutional investors and hedge funds 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.