NIO (NYSE:NIO) Cut to “Hold” at Hsbc Global Res

Hsbc Global Res downgraded shares of NIO (NYSE:NIO) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

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

NIO Price Performance

Shares of NYSE:NIO opened at $4.32 on Tuesday. The company has a 50 day moving average of $4.65 and a 200 day moving average of $4.80. 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 stock has a market cap of $7.43 billion, a P/E ratio of -2.86 and a beta of 1.70. NIO has a 12 month low of $3.61 and a 12 month high of $7.84.

Institutional Investors Weigh In On NIO

A number of institutional investors have recently made changes to their positions in NIO. Point72 Asset Management L.P. lifted its stake in NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. FMR LLC lifted its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the period. Krane Funds Advisors LLC boosted its holdings in NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after acquiring an additional 370,556 shares during the period. Finally, Bank of New York Mellon Corp grew its position in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after acquiring an additional 343,910 shares during the last quarter. Hedge funds and other institutional investors 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.