NIO (NYSE:NIO) Shares Up 3% – What’s Next?

Shares of Nio Inc – (NYSE:NIO) rose 3% during trading on Thursday . The stock traded as high as $4.38 and last traded at $4.35. Approximately 12,452,793 shares changed hands during trading, a decline of 69% from the average daily volume of 40,038,344 shares. The stock had previously closed at $4.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NIO shares. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

The company has a market cap of $8.99 billion, a PE ratio of -2.85 and a beta of 1.70. The company has a 50-day moving average of $4.44 and a 200-day moving average of $4.76. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Institutional Investors Weigh In On NIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIO. Ballentine Partners LLC boosted its stake in NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock valued at $160,000 after acquiring an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock valued at $129,000 after purchasing an additional 2,588 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in NIO by 24.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after purchasing an additional 2,867 shares during the period. BSW Wealth Partners increased its position in NIO by 21.4% in the fourth quarter. BSW Wealth Partners now owns 20,423 shares of the company’s stock worth $89,000 after buying an additional 3,606 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares during the period. 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.