HSBC Downgrades NIO (NYSE:NIO) to Hold

NIO (NYSE:NIO) was downgraded by HSBC from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat reports.

Several other analysts also recently weighed in on the company. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

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 business’s 50 day moving average is $4.67 and its 200-day moving average is $4.81. The stock has a market cap of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. NIO has a twelve month low of $3.61 and a twelve month high of $7.84.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the 3rd quarter worth $32,000. Caprock Group LLC acquired a new stake in NIO during the 2nd quarter worth about $63,000. AE Wealth Management LLC purchased a new stake in NIO during the second quarter valued at about $75,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO in the third quarter worth about $76,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of NIO in the third quarter worth approximately $78,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

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.