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

by · The Markets Daily

Nio Inc – (NYSE:NIO – Get Free Report)’s share price dropped 0.8% on Thursday . The stock traded as low as $4.35 and last traded at $4.36. Approximately 20,905,899 shares were traded during trading, a decline of 53% from the average daily volume of 44,370,176 shares. The stock had previously closed at $4.39.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on NIO

NIO Stock Up 1.7 %

The business has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $4.75. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of -2.94 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Hedge Funds Weigh In On NIO

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of 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 in the last quarter. Toronto Dominion Bank grew its position in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. AlphaStar Capital Management LLC purchased a new stake in shares of NIO in the fourth quarter valued at approximately $537,000. FMR LLC grew its position 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 valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of NIO in the third quarter valued at approximately $1,327,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Company Profile

(Get Free Report)

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.

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