NIO (NYSE:NIO) Trading 3.4% Higher – Here’s What Happened

Nio Inc – (NYSE:NIO)’s stock price rose 3.4% during mid-day trading on Tuesday . The company traded as high as $4.58 and last traded at $4.57. Approximately 16,345,402 shares traded hands during trading, a decline of 71% from the average daily volume of 56,726,723 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

NIO has been the subject of several research reports. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup decreased their target price on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wolfe Research initiated coverage on NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Macquarie cut 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 note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIO currently has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Up 2.9 %

The firm has a market capitalization of $7.82 billion, a PE ratio of -3.03 and a beta of 1.77. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business’s 50-day moving average price is $5.02 and its 200-day moving average price is $4.83.

Hedge Funds Weigh In On NIO

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock worth $26,891,000 after acquiring an additional 4,018,659 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of NIO in the 3rd quarter valued at approximately $4,879,000. Quadrature Capital Ltd lifted its holdings in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after purchasing an additional 538,907 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its position in NIO by 31.7% during the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock worth $6,401,000 after purchasing an additional 370,556 shares during the period. 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.