NIO (NYSE:NIO) Shares Up 0.6% – Here’s What Happened

Nio Inc – (NYSE:NIO) shares rose 0.6% during mid-day trading on Thursday . The company traded as high as $4.29 and last traded at $4.24. Approximately 20,817,279 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 42,744,117 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NIO shares. HSBC lowered NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.38.

NIO Stock Up 0.8 %

The company has a market cap of $8.86 billion, a P/E ratio of -2.82 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company’s 50-day moving average is $4.40 and its two-hundred day moving average is $4.75.

Institutional Investors Weigh In On NIO

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of NIO in the 4th quarter worth $1,776,000. Krane Funds Advisors LLC lifted its holdings in NIO by 39.4% in the fourth quarter. Krane Funds Advisors LLC now owns 662,100 shares of the company’s stock valued at $2,887,000 after acquiring an additional 187,260 shares during the period. Arizona PSPRS Trust purchased a new position in NIO in the fourth quarter worth about $1,330,000. Trexquant Investment LP bought a new stake in shares of NIO during the 4th quarter valued at about $3,305,000. Finally, Franklin Resources Inc. lifted its stake in shares of NIO by 20.4% in the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock worth $72,000 after purchasing an additional 2,788 shares during the period. Institutional investors own 48.55% of the company’s stock.

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.