NIO (NYSE:NIO) Trading 1.7% Higher – Here’s Why

Shares of Nio Inc – (NYSE:NIO) rose 1.7% during mid-day trading on Monday . The company traded as high as $4.42 and last traded at $4.37. Approximately 18,812,365 shares changed hands during trading, a decline of 54% from the average daily volume of 40,866,031 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

NIO has been the subject of several research analyst reports. Macquarie cut shares of 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. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.71.

NIO Trading Down 2.2 %

The firm has a market cap of $7.36 billion, a P/E ratio of -2.80 and a beta of 1.70. 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 company’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $4.77.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NIO. Blue Trust Inc. boosted its position in shares of NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO during the 3rd quarter worth about $32,000. Trilogy Capital Inc. bought a new stake in shares of NIO in the 4th quarter valued at about $45,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of NIO in the 4th quarter valued at approximately $53,000. Finally, Telos Capital Management Inc. bought a new position in NIO during the 4th quarter worth approximately $59,000. 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.