NIO (NYSE:NIO) Stock Price Down 0.8% - Here's What Happened

Nio Inc - (NYSE:NIO - Get Free Report) fell 0.8% during trading on Thursday . The company traded as low as $4.28 and last traded at $4.32. 10,825,650 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 54,201,619 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of NIO from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie lowered NIO from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, HSBC lowered NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, NIO currently has an average rating of "Hold" and an average target price of $5.30.

NIO Price Performance

The stock has a 50-day simple moving average of $4.34 and a 200 day simple moving average of $4.81. The company has a market cap of $10.91 billion, a PE ratio of -3.46 and a beta of 1.81. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC increased its position in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd increased its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after purchasing an additional 538,907 shares during the last quarter. Bridgewater Associates LP raised its position in NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares during the period. SG Americas Securities LLC lifted its stake in NIO by 104.8% during the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company's stock worth $5,018,000 after purchasing an additional 589,082 shares in the last quarter. Finally, Swedbank AB boosted its position in shares of NIO by 0.8% during the fourth quarter. Swedbank AB now owns 1,068,110 shares of the company's stock worth $4,657,000 after buying an additional 9,000 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.