Nio Inc – (NYSE:NIO – Get Free Report)’s share price was down 0.9% during trading on Monday . The stock traded as low as $4.48 and last traded at $4.50. Approximately 11,828,409 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 56,402,871 shares. The stock had previously closed at $4.54.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on NIO shares. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Bank of America boosted their price target on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $5.71.
NIO Trading Down 1.3 %
The stock has a market cap of $7.70 billion, a P/E ratio of -2.97 and a beta of 1.77. The firm’s fifty day moving average price is $4.87 and its two-hundred day moving average price is $4.81. 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 Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of NIO. Renaissance Technologies LLC bought a new stake in NIO during the second quarter worth about $1,076,000. International Assets Investment Management LLC lifted its position in NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares during the last quarter. Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after buying an additional 132,237 shares in the last quarter. FMR LLC raised its stake 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 worth $36,038,000 after acquiring an additional 5,296,601 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of NIO in the 3rd quarter worth approximately $1,327,000. Hedge funds and other institutional investors 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.