NIO (NYSE:NIO) Shares Down 3.8% – What’s Next?

Nio Inc – (NYSE:NIO)’s stock price fell 3.8% during trading on Tuesday . The stock traded as low as $4.12 and last traded at $4.17. 23,854,142 shares were traded during trading, a decline of 41% from the average session volume of 40,664,445 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

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

NIO Price Performance

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 has a 50 day moving average price of $4.42 and a 200-day moving average price of $4.76. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of -2.71 and a beta of 1.69.

Institutional Trading of NIO

Several large investors have recently modified their holdings of NIO. The Manufacturers Life Insurance Company grew its holdings in NIO by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 181,043 shares of the company’s stock worth $753,000 after purchasing an additional 17,467 shares during the period. Truist Financial Corp boosted its position in shares of NIO by 32.2% during the 2nd quarter. Truist Financial Corp now owns 25,253 shares of the company’s stock worth $105,000 after purchasing an additional 6,150 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of NIO during the 2nd quarter worth about $228,000. Atomi Financial Group Inc. grew its stake in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after buying an additional 2,588 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in NIO in the 3rd quarter valued at about $92,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.