NIO (NYSE:NIO) Rating Lowered to “Hold” at HSBC

HSBC cut shares of NIO (NYSE:NIO) from a buy rating to a hold rating in a research note released on Tuesday morning, MarketBeat Ratings reports.

NIO has been the topic of a number of other research reports. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.71.

NIO Price Performance

NYSE NIO opened at $4.53 on Tuesday. The stock has a 50-day simple moving average of $4.67 and a 200 day simple moving average of $4.81. NIO has a twelve month low of $3.61 and a twelve month high of $8.05. The stock has a market capitalization of $7.79 billion, a PE ratio of -3.00 and a beta of 1.70. 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 Investors Weigh In On NIO

Several institutional investors and hedge funds have recently made changes to their positions in NIO. Allspring Global Investments Holdings LLC bought a new position in NIO during the 3rd quarter valued at about $32,000. First Trust Direct Indexing L.P. bought a new position in shares of NIO in the third quarter valued at approximately $76,000. Apollon Wealth Management LLC acquired a new position in shares of NIO in the 3rd quarter worth approximately $78,000. Sivia Capital Partners LLC bought a new stake in NIO during the 3rd quarter worth approximately $92,000. Finally, Avior Wealth Management LLC increased its holdings in NIO by 106.1% during the 3rd quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock valued at $97,000 after purchasing an additional 7,510 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.