NIO (NYSE:NIO) Hits New 1-Year Low at $8.03

Shares of Nio Inc – (NYSE:NIO – Get Rating) hit a new 52-week low during trading on Monday . The stock traded as low as $8.03 and last traded at $8.41, with a volume of 12541994 shares. The stock had previously closed at $8.51.

Analyst Upgrades and Downgrades

Several analysts have commented on NIO shares. Barclays downgraded shares of NIO from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $18.00 to $10.00 in a report on Thursday, March 2nd. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $10.00 in a report on Thursday, March 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $11.27 price target (down from $42.30) on shares of NIO in a research note on Monday, November 28th. China Renaissance decreased their price target on shares of NIO from $12.30 to $10.40 and set a “hold” rating for the company in a research note on Thursday, December 29th. Finally, UBS Group cut shares of NIO from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $13.00 in a research note on Thursday, November 17th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.94.

NIO Stock Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.29 and a quick ratio of 1.11. The stock has a 50-day simple moving average of $10.54 and a 200-day simple moving average of $12.43. The stock has a market cap of $14.05 billion, a P/E ratio of -6.48 and a beta of 1.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NIO. OLD Mission Capital LLC bought a new stake in shares of NIO during the fourth quarter worth about $110,000. Voya Investment Management LLC grew its holdings in shares of NIO by 4.4% during the fourth quarter. Voya Investment Management LLC now owns 138,739 shares of the company’s stock worth $1,353,000 after purchasing an additional 5,864 shares during the last quarter. Gallagher Benefit Services Inc. bought a new stake in shares of NIO during the fourth quarter worth about $950,000. Natixis grew its holdings in shares of NIO by 48.6% during the fourth quarter. Natixis now owns 1,192,184 shares of the company’s stock worth $11,642,000 after purchasing an additional 390,073 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of NIO by 112.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,741 shares of the company’s stock worth $105,000 after purchasing an additional 5,679 shares during the last quarter. Institutional investors own 30.06% of the company’s stock.

About NIO

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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.