NIO (NYSE:NIO) Cut to Hold at Hsbc Global Res

NIO (NYSE:NIO) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group cut shares of 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. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.71.

NIO Stock Down 4.2 %

NIO stock opened at $4.32 on Tuesday. The firm has a market capitalization of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. The stock’s 50 day moving average is $4.67 and its 200-day moving average is $4.81. NIO has a twelve month low of $3.61 and a twelve month high of $7.84. 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 Investors Weigh In On NIO

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in NIO in the third quarter valued at approximately $32,000. Caprock Group LLC purchased a new stake in shares of NIO during the 2nd quarter valued at approximately $63,000. AE Wealth Management LLC acquired a new stake in shares of NIO during the second quarter valued at about $75,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO in the third quarter valued at approximately $76,000. Finally, Apollon Wealth Management LLC purchased a new stake in NIO during the third quarter worth approximately $78,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

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.