Nio Inc - (NYSE:NIO - Get Free Report)'s share price dropped 6.8% on Thursday . The stock traded as low as $4.72 and last traded at $4.75. Approximately 31,341,181 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 54,844,938 shares. The stock had previously closed at $5.10.
Wall Street Analyst Weigh In
NIO has been the topic of several analyst reports. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res downgraded shares of NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. HSBC downgraded shares of NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.03.
Get Our Latest Stock Analysis on NIO
NIO Trading Up 3.3 %
The company's 50 day moving average price is $4.38 and its 200 day moving average price is $4.83. The company has a market cap of $10.20 billion, a price-to-earnings ratio of -3.24 and a beta of 1.81. 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 modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares during the period. Sava Infond d.o.o. bought a new stake in NIO in the 4th quarter valued at $44,000. Callan Family Office LLC bought a new stake in NIO in the 4th quarter valued at $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO in the 4th quarter valued at $45,000. 48.55% of the stock is owned by institutional investors.
About NIO
(
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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