Short Interest in Nio Inc – (NYSE:NIO) Declines By 20.8%

Nio Inc – (NYSE:NIO) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 154,970,000 shares, a decline of 20.8% from the November 30th total of 195,740,000 shares. Based on an average daily trading volume, of 66,920,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

Several analysts have issued reports on NIO shares. The Goldman Sachs Group cut 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. Citigroup dropped their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIO has an average rating of “Hold” and a consensus target price of $5.71.

NIO Stock Performance

NIO stock traded down $0.21 during trading on Friday, reaching $4.48. The company had a trading volume of 40,880,453 shares, compared to its average volume of 56,210,566. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -2.97 and a beta of 1.77. NIO has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a 50-day simple moving average of $4.79 and a 200-day simple moving average of $4.80.

Institutional Investors Weigh In On NIO

A number of large investors have recently made changes to their positions in the stock. Ballentine Partners LLC increased its holdings in NIO by 11.5% in the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after buying an additional 2,482 shares during the period. Atomi Financial Group Inc. increased its stake in shares of NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after acquiring an additional 2,588 shares during the period. Greenwich Wealth Management LLC increased its stake in shares of NIO by 12.9% in the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock worth $121,000 after acquiring an additional 3,315 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of NIO by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock worth $866,000 after purchasing an additional 3,539 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in NIO by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock valued at $5,742,000 after purchasing an additional 3,548 shares during the period. 48.55% of the stock is owned by hedge funds and other 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.