Shares of Nio Inc – (NYSE:NIO) were down 10.5% on Monday . The company traded as low as $2.71 and last traded at $2.72, approximately 39,919,007 shares were traded during mid-day trading. An increase of 48% from the average daily volume of 26,889,574 shares. The stock had previously closed at $3.04.
A number of research analysts have recently weighed in on NIO shares. Zacks Investment Research upgraded NIO from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Tuesday, September 10th. Bank of America lowered NIO from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $6.20 to $3.00 in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. NIO has an average rating of “Hold” and an average price target of $7.36.
The stock has a fifty day moving average of $2.96 and a 200 day moving average of $3.84. The firm has a market capitalization of $3.12 billion and a P/E ratio of -0.20. The company has a debt-to-equity ratio of 3.73, a current ratio of 1.49 and a quick ratio of 1.34.
Institutional investors have recently modified their holdings of the stock. Aries Wealth Management bought a new stake in NIO during the second quarter worth $33,000. Sigma Planning Corp bought a new stake in NIO during the second quarter worth $27,000. World Asset Management Inc bought a new stake in NIO during the second quarter worth $28,000. United Capital Financial Advisers LLC raised its stake in shares of NIO by 32.5% in the second quarter. United Capital Financial Advisers LLC now owns 13,922 shares of the company’s stock valued at $36,000 after buying an additional 3,416 shares during the period. Finally, NEXT Financial Group Inc raised its stake in shares of NIO by 50.0% in the second quarter. NEXT Financial Group Inc now owns 15,000 shares of the company’s stock valued at $38,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 36.93% of the company’s stock.
About NIO (NYSE: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.
Further Reading: Fundamental Analysis and Individual Investors
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