NIO (NYSE:NIO) Stock Price Up 1.1% – Here’s Why

Nio Inc – (NYSE:NIO) traded up 1.1% on Thursday . The company traded as high as $4.30 and last traded at $4.25. 14,334,572 shares traded hands during trading, a decline of 65% from the average session volume of 41,372,059 shares. The stock had previously closed at $4.20.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NIO shares. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and cut their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $4.70 in a report on Tuesday. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.38.

NIO Trading Up 0.8 %

The firm’s 50-day simple moving average is $4.42 and its 200 day simple moving average is $4.75. The stock has a market cap of $8.84 billion, a P/E ratio of -2.80 and a beta of 1.68. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On NIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after purchasing an additional 334,723 shares in the last quarter. Toronto Dominion Bank boosted its stake in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. FMR LLC increased its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the period. Main Management ETF Advisors LLC acquired a new stake in shares of NIO in the third quarter valued at $1,327,000. Finally, Signaturefd LLC boosted its stake in NIO by 16.9% during the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock valued at $325,000 after buying an additional 7,014 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

About NIO

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.