NIO (NYSE:NIO) Trading 1% Higher – Here’s What Happened

Nio Inc – (NYSE:NIO)’s share price was up 1% during mid-day trading on Monday . The company traded as high as $5.04 and last traded at $4.95. Approximately 13,289,533 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 54,984,946 shares. The stock had previously closed at $4.90.

Analysts Set New Price Targets

A number of equities research analysts have commented on NIO shares. JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut 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 research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.03.

NIO Stock Up 2.6 %

The company has a market cap of $10.49 billion, a PE ratio of -3.33 and a beta of 1.81. The firm has a 50-day simple moving average of $4.38 and a two-hundred day simple moving average of $4.84. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently modified their holdings of the company. Shufro Rose & Co. LLC acquired a new stake in shares of NIO during the 4th quarter worth $65,000. Vident Advisory LLC raised its holdings in shares of NIO by 60.6% in the 4th quarter. Vident Advisory LLC now owns 53,937 shares of the company’s stock worth $235,000 after purchasing an additional 20,349 shares during the period. Vienna Asset Management LLC acquired a new position in shares of NIO in the 4th quarter valued at about $100,000. Laird Norton Wetherby Trust Company LLC purchased a new stake in shares of NIO during the 4th quarter worth about $93,000. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in NIO by 15.1% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 66,534 shares of the company’s stock worth $290,000 after purchasing an additional 8,746 shares in the last quarter. Institutional investors and hedge funds 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.