Hsbc Global Res Downgrades NIO (NYSE:NIO) to Hold

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

A number of other analysts also recently commented on the stock. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and decreased their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Stock Down 4.2 %

Shares of NYSE:NIO opened at $4.32 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a fifty day simple moving average of $4.67 and a 200 day simple moving average of $4.81. NIO has a 12-month low of $3.61 and a 12-month high of $7.84. The firm has a market cap of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70.

Institutional Trading of NIO

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

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.