NIO (NYSE:NIO) Shares Gap Down – What’s Next?

Nio Inc – (NYSE:NIO) gapped down prior to trading on Thursday . The stock had previously closed at $5.17, but opened at $4.98. NIO shares last traded at $4.89, with a volume of 12,706,492 shares.

Analyst Ratings Changes

NIO has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $6.60 to $4.80 in a research note 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. The Goldman Sachs Group downgraded 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, HSBC cut shares of 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, seven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NIO currently has an average rating of “Hold” and a consensus price target of $5.03.

NIO Stock Down 7.8 %

The firm has a market cap of $9.95 billion, a PE ratio of -3.16 and a beta of 1.81. The business has a 50-day moving average price of $4.41 and a two-hundred day moving average price of $4.86. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Blue Trust Inc. raised its stake in 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 acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares during the last quarter. Sava Infond d.o.o. purchased a new position in shares of NIO during the fourth quarter worth about $44,000. Callan Family Office LLC purchased a new position in NIO during the 4th quarter worth approximately $44,000. Finally, Trilogy Capital Inc. acquired a new position in NIO during the fourth quarter worth approximately $45,000. 48.55% of the stock is 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.